Bundle: Financial Management: Theory & Practice, 16th + MindTap, 1 term Printed Access Card
16th Edition
ISBN: 9780357252673
Author: Brigham, Eugene F., EHRHARDT, Michael C.
Publisher: Cengage Learning
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Textbook Question
Chapter 2, Problem 15P
Use the following income statement of Elliott
Elliott Game Theory Consulting Income Statement for Year Ending December 31
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Rousseau Corporation has the following Statement of Income for the year ended May 31, 2020:
Sales...
$1,675,200
Cost of goods sold..
887,600
Gross margin...
787,600
Selling & administrative expense..
241,200
Interest expense.
65,000
Income before income taxes.
481,400
192,500
$288,900
Income taxes..
Net income....
Calculate the interest-coverage ratio for Rousseau Corporation for May31, 2020 (place answer at up to 2
decimal places in the space below).
신
A
Comparison of Firm Performance
1
2 2013 Financials
3
Net operating revenues
4 Cost of goods sold
5 Gross profit
6 Selling, general, and administrative expense
7 Other costs
8 Operating income
9
Interest expense
10 Other income (loss) - net
11 Income before income taxes
12 Income taxes
13 Net income
14 Assets
15 Cash and cash equivalents
16 Net receivables
17 Inventories
18 Prepaid expenses and other
19 Total current assets
20 Property, plant and equipment
21 Goodwill
22 Other assets
23 Total assets
24 Liabilities and Stockholder Equity
25 Accounts payable
26 Short-term debt
27 Total current liability
28 Long-term debt
29 Other liabilities
30 Total liabilities
31 Stockholder equity
32
B
Walmart
469,162
352,488
116,674
88,873
27,801
2,251
187
25,737
7,981
17,756
7,781
6,768
43,803
1,588
59,940
116,681
20,497
5,987
203,105
59,099
12,719
71,818
41,417
113,235
89,870
C
Macy's
27,931
16,725
11,206
8,440
88
2,678
388
(134)
2,156
767
1,389
1,836
371
5,308
361
7,876
8,196
3,743
1,176
20,991…
Obtain Target Corporation's annual report for its 2018 fiscal year (year ended February 2, 2019) at http://investors.target.com
a. What was Target's gross margin percentage for the fiscal year ended February 2, 2019 (2018) and 2017? Use "Sales" for these computations
b. What was Target's Return on Sales percentage for 2018 and 2017? Use "Total Revenue" for these computations.
c. Target's return on ales percentage for 2017 was higher than it was in 2018. Ignoring taxes, how much higher would Target's 2018 net income have been if it's return on sales percentage in 2018 had been the same as for 2017?
Chapter 2 Solutions
Bundle: Financial Management: Theory & Practice, 16th + MindTap, 1 term Printed Access Card
Ch. 2 - Define each of the following terms:
Annual report;...Ch. 2 - Prob. 2QCh. 2 - If a typical firm reports 20 million of retained...Ch. 2 - What is operating capital, and why is it...Ch. 2 - Prob. 6QCh. 2 - Prob. 7QCh. 2 - Prob. 8QCh. 2 - An investor recently purchased a corporate bond...Ch. 2 - Corporate bonds issued by Johnson Corporation...Ch. 2 - Hollys Art Galleries recently reported 7.9 million...
Ch. 2 - Nicholas Health Systems recently reported an...Ch. 2 - Kendall Corners Inc. recently reported net income...Ch. 2 - In its most recent financial statements,...Ch. 2 - Prob. 7PCh. 2 - Prob. 8PCh. 2 -
Carter Swimming Pools has $16 million in net...Ch. 2 - Prob. 10PCh. 2 - Prob. 11PCh. 2 - The Shrieves Corporation has 10,000 that it plans...Ch. 2 - The Moore Corporation has operating income (EBIT)...Ch. 2 - The Berndt Corporation expects to have sales of...Ch. 2 - Use the following income statement of Elliott Game...Ch. 2 - Prob. 16PCh. 2 - Athenian Venues Inc. just reported the following...Ch. 2 - Rhodes Corporations financial statements are shown...Ch. 2 - The Bookbinder Company had 500,000 cumulative...Ch. 2 - Begin with the partial model in the file Ch02 P20...Ch. 2 - Begin with the partial model in the file Ch02 P21...Ch. 2 -
Jenny Cochran, a graduate of the University of...Ch. 2 - Jenny Cochran, a graduate of the University of...Ch. 2 - Jenny Cochran, a graduate of the University of...Ch. 2 - What is Computrons net operating profit after...Ch. 2 - What is Computron’s free cash flow? What are...Ch. 2 - Calculate Computron’s return on invested capital...Ch. 2 - Jenny Cochran, a graduate of the University of...Ch. 2 - What happened to Computron’s Market Value Added...Ch. 2 - Prob. 9MCCh. 2 - Prob. 10MCCh. 2 - Prob. 11MCCh. 2 - Prob. 12MC
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- Calculate net income after corporate income tax is paid for quarter 2 from the following income statement.arrow_forwardFind the number of times interest earned in 2021:arrow_forwardProjecting NOPAT and NOA Using Parsimonious Forecasting Method Following are Logitech's sales, net operating profit after tax (NOPAT), and net operating assets (NOA) for its fiscal year ended March 31, 2019 ($ thousands). Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Financial information Net sales Net operating profit after tax (NOPAT) Net operating assets (NOA) $2,788,322 211,362 571,823 Use the parsimonious method to forecast Logitech's sales, NOPAT, and NOA for fiscal years ended March 31, 2020 through 2023 using the following assumptions. Note: Complete the entire question in Excel (template provided above). Using Excel, format each answer to two decimal places. Use Increase Decimal or Decrease Decimal to adjust decimal places. Do not round answers. Then enter the answers into the provided spaces below with two decimal places_. Note: When completing the question…arrow_forward
- Projecting NOPAT and NOA Using Parsimonious Forecasting Method Following are Logitech's sales, net operating profit after tax (NOPAT), and net operating assets (NOA) for its fiscal year ended March 31, 2019 ($ thousands). Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Financial information Net sales Net operating profit after tax (NOPAT) Net operating assets (NOA) $2,091,242 158,522 428,867 Use the parsimonious method to forecast Logitech's sales, NOPAT, and NOA for fiscal years ended March 31, 2020 through 2023 using the following assumptions. Note: Complete the entire question in Excel (template provided above). Using Excel, format each answer to two decimal places. Use Increase Decimal or Decrease Decimal to adjust decimal places. Do not round answers. Then enter the answers into the provided spaces below with two decimal places_. Note: When completing the question…arrow_forwardThe financial data of Mammoth corporation for the year ended 31st December,2020 is as followsParticulars Variable expense as percentage of sales 66.67Interest Expense ($) 200DOL 5DFL 3Income tax rate 0.35Requirement:a) Prepare income statement for company.arrow_forwardThe following are the comparative financial statements for Outland Corporation for 2020 and 2019: OUTLAND CORPORATION Statement of Income For Periods Ending October 31 Sales Revenue Cost of Goods Sold Gross Profit.. 2020 167,500 100,000 67,500 2019 140,000 85,000 55,000 Expenses Depreciation Selling and Administrative Interest Expense. Total Expenses. 15,000 22,500 15,000 15,000 47,500 35,000 Net Income (before taxes). Income Taxes 25,000 10,000 15,000 22,500 7,500 15,000 Net Income OUTLAND CORPORATION Statement of Financial Position As at October 31 2020 2019 Assets Current Assets: 4,000 10,000 35,000 31,000 80,000 Cash. 2,500 7,500 30,000 25,000 65,000 Marketable Securities. Accounts Receivable. Inventory Total Current Assets Investments (at cost).. 30,000 32,500 Property, plant and equipment Property, Plant and Equipment.. Less: Accumulated Depreciation. 200,000 87,500 112,500 2,500 225,000 190,000 80,000 110,000 2,500 210,000 Goodwill Total Assets Liabilities and Shareholders'…arrow_forward
- using this information, analyse the financial performance of the company using ten financial ratio analysis.arrow_forwardplease solve d, e, f, and garrow_forwardThe following is the income statement belongs to Excel Star LLC for the year ending 31 December 2020: Excel Star LLC Income Statement for the year ending 31December 2020 Net Sales OMR 25000 Cost of Goods Sold 7000 Gross Profit 18000 Operating Expenses 8000 Operating Income 10000 Other Income: Interest Income ____4000 Profit Before Tax OMR 14000 If the company pays an income tax expense on its profit at 30%, determine the amount of tax payable Select one: a. 10000 OMR b. 9800 OMR c. 4200 OMR d. 18200 OMRarrow_forward
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