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Problem: Pro forma income statement
Austin Grocers recently reported the following 2016 income statement (in millions of dollars):
For the coming year, the company is forecasting a 25% increase in sales, and it expects that its year-end operating costs, including depreciation, will equal 70% of sales. Austin's tax rate, interest expense, and dividend payout ratio are all expected to remain constant.
What is Austin's projected 2017 net income? Enter your answer in millions. For example, an answer of $13,000,000 should be entered as 13. Round your answer to two decimal places.
What is the expected growth rate in Austin's dividends? Do not round your intermediate calculations. Round your answer to two decimal places.
Consider a firm that can invest $250 right now, at t=0 in a project that will yield a single cash flow one period hence, at t=1. This $250 investment will be raised by issuing unsecured debt at t=0.
How would you describe a ratio analysis? Is each of its components necessary? Which of the figures would you identify as being more beneficial for the general manager of a major hotel? Why are these figures so important?
Mr. Warner never takes the discount offered, but he pays his suppliers in 60 days rather than the 70 days.
Define and describe the difference between the operating cycle and cash conversion cycle for a typical manufacturing company.
What strategies can companies adopt to improve the chances of developing a successful new product? Give examples.
Sherwood Corporation is using these financial statements to entice investors to purchase stock in the company. However, a recent FBI investigation revealed that the sale of real estate was a fabricated transaction with a fictitious Corporation.
What is the difference between internal and external learning conditions? Which do you feel is more important for success? Why?
What is the approximate effective cost of missing the cash discounts from each supplier? If you could take advantage of either cash discount offer, which supplier would you select?
You will need to collect the stock price data for any 2 companies of your choice and the S&P 400 index. Choose companies that are in different industries.
If the bond is redeemable at par, what is the purchase price? Was the bond purchased at a premium or a discount?
Suppose you can earn 6% riskfree forever. You will need $100,000 in 12 years. A hypothetical riskfree zero coupon bond will "bullet immunize" this cash requirement.
You are the HR manager of a relatively new retail company that has both retail stores and Internet sales. Your company is steadily growing in revenue and profitability.
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