Chapter 2.1, Problem 1AYU

Melford Industries sells a product to a wholesaler for $52. The wholesaler applies a 30% markup based on selling price when selling to a retailer. The retailer then applies a 40% markup based on selling price to determine the final price to the consumer. What is the final selling price to the consumer? Answer

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If sales revenue is $220 million and accounts receivable decreased by $30 million, the amount of cash received from customers: a. was $150 million. b. was $125 million. c. depends on the mix of cash sales and credit sales. d. was $250 million.

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Henry is an all-equity firm that has 63,500 shares of stock outstanding at a market price of $22.80 per share. The firm is considering a capital structure with 45% debt at a rate of 6% and use the proceeds to repurchase shares. Determine the shares outstanding once the debt is issued.

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