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Question - Collins Systems, Inc., is trying to develop an asset-financing plan. The firm has P300,000 in temporary current assets and P200,000 in permanent current assets. Collins also has P400,000 in fixed assets.
Required -
1. Construct two alternative financing plans for the firm. One of the plans should be conservative, with 80%of assets financed by long-term sources and the rest financed by short-term sources. The other plan should be aggressive, with only 30% of assets financed by long-term sources and the remaining assets financed by short-term sources. The current interest rate is 15% on long-term funds and 10% on short-term financing. Compute the annual interest payments under each plan.
2. Given that Collins's earnings before interest and taxes are P180,000, calculate earnings after taxes for each of your alternatives. Assume a tax rate of 40%.
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