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Problem 1: The Morrit Corporation has $480,000 of debt outstanding, and it pays an interest rate of 8% annually. Morrit's annual sales are $3 million, its average tax rate is 25%, and its net profit margin on sales is 7%. If the company does not maintain a TIE ratio of at least 5 to 1, then its bank will refuse to renew the loan, and bankruptcy will result. What is Morrit's TIE ratio? Do not round intermediate calculations. Round your answer to two decimal places.
Describe the organizational forms a company might have as it evolves from a start-up to a major corporation. List the advantages and disadvantages
How would you go about indicating to investors that all account balances are valid and free from potential errors? What types of financial records and information would you use to support your claims? Explain. Use and cite references used.
Which statement is more useful-the income statement or the statement of cash flows? In computing free cash flow, what is an argument for treating the purchases of treasury stock like dividend payments?
The market's required yield to maturity on a comparable-risk bond is 17 percent. Determine the yield to maturity
Before the above acquisitions were taken into account, the balances (at cost) on the non-current asset accounts for premises and plant were £521,100 and £407,500 respectively.
Generate balance sheets for the business as of 31 st December, 2010 and 2011.Hint: Report only net equity on the balance sheet and remember that net equity equals the difference between liabilities and assets.)
Solve the retained earnings (deficit) as of December 31, 2017 (show your work). Then, prepare the shareholders' equity section of the balance sheet.
Purchases are 60% of the sales for the following quarter. What is the accounts payable balance at the beginning of Quarter 2
If the firm has a potential investment that would simultaneously raise its fixed costs to $16,500 and allow it to charge a per-box sale price of $6.50 due to better-textured tacos, what will the impact be on its operating breakeven point in boxes?
Post the journal entries into T-accounts (make sure you have a total amount for each account). There should be no hardcoded numbers on the T-accounts
When looking at the multimedia giant that is The Walt Disney Corporation, what income valuation method would you use for the company
Which describes the difference between mutual fund and ETF? Only mutual fund can be bought and sold throughout the trading day
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