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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 8,950 Less: Cost of goods sold 7,410 Less: Depreciation 430 Earnings before interest and taxes $ 1,110 Less: Interest paid 90 Taxable Income $ 1,020 Less: Taxes 357 Net income $ 663 Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009 2010 2009 2010 Cash $ 160 $ 190 Accounts payable $ 1,090 $ 1,210 Accounts rec. 860 760 Long-term debt 1,030 1,230 Inventory 1,600 1,590 Common stock $ 3,200 $ 3,040 Total $ 2,620 $ 2,540 Retained earnings 570 820 Net fixed assets 3,270 3,760 Total assets $ 5,890 $ 6,300 Total liab. & equity $ 5,890 $ 6,300 What is the quick ratio for 2010?
Describe the type of dividend policy the firm uses. Would you recommend an alternative dividend policy? Explain. How would this policy affect the break points and imminent impact on investments recommended in part 2(E)?
A common stock pays an annual dividend per share of $4.40. The risk-free rate is 7% and the risk premium for this stock is 4%. If the annual dividend is expected to remain at $4.40, what is the value of the stock?
ABC Products Company has hired your team to assist them in achieving their optimal order size to enhance inventory management. As you know, there are two basic costs to inventory; handling and delivery as well as carrying costs (this includes storage..
Which of the following will lead to a decrease in financial leverage?
What must be the beta of a portfolio with E(rP) = 18%, if rf = 4% and E(rM) = 14%?
Life insurance, like all other insurance, is the ability to combine a homogeneous group of people to spread the risk.
An oil company has installed an offshore production facility for $10 million. The annual maintenance cost of the facility is $60,000 per year for the first year, increasing by $10,000 per year for the next 9 years. In the 11th year, a major overhaul ..
On Jan 19th, the three-month forward rate for the Singaporean dollar (SGD) to New Zealand dollar (NZD) was SGD1.0260/NZD. At the same time, the spot rate was SGD 1.0180/NZD. A deranged scientist located in New Jersey had a hunch that the spot rate wi..
What is the price of a European call option on a non-dividend-paying stock when the stock price is $26, the strike price is $25, the risk-free interest rate is 5% per annum, the volatility is 20% per annum, and the time to maturity is three months?
Are dividends relevant in determining share values? Identify one factor that indicates they are, and one that indicates they are not. Give your opinion on this question and why you hold it. Select one of the following theories and provide an argument..
Megan owns a 10-year bond with a par value of $1,000 and a coupon rate of 8%. The current market price of this bond is $1,194. If market interest rates rise, will the market price of Megan’s bond change? If so, in which direction? Explain. Calculate ..
Your portfolio allocates equal funds to DW Co. and Woodpecker, Inc. DW Co. stock has annual return mean and standard deviation of 15.5 percent and 44 percent.
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