Reference no: EM131570213

1- Bear Tracks, Inc., has current assets of $2,270, net fixed assets of $10,300, current liabilities of $1,400, and long-term debt of $4,080.

What is the value of the shareholders’ equity account for this firm? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Shareholders' equity            $

How much is the company's net working capital? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Net working capital            $

2- Pharrell, Inc., has sales of $601,000, costs of $257,000, depreciation expense of $63,000, interest expense of $30,000, and a tax rate of 35 percent.

What is the net income for this firm? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Net income            $

3- Pharrell, Inc., has sales of $600,000, costs of $258,000, depreciation expense of $63,500, interest expense of $30,500, and a tax rate of 40 percent. The firm paid out $43,500 in cash dividends.

What is the addition to retained earnings? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Addition to retained earnings            $

4- Pharrell, Inc., has sales of $604,000, costs of $254,000, depreciation expense of $61,500, interest expense of $28,500, and a tax rate of 35 percent. The firm paid out $45,500 in cash dividends and has 59,000 shares of common stock outstanding.

What is the earnings per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Earnings per share            $

What is the dividends per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Dividends per share           $

5- Hailey, Inc., has sales of $19,630, costs of $9,400, depreciation expense of $2,070, and interest expense of $1,560. Assume the tax rate is 30 percent.

What is the operating cash flow, or OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Operating cash flow            $

6- Rotweiler Obedience School’s December 31, 2015, balance sheet showed net fixed assets of $1,765,000, and the December 31, 2016, balance sheet showed net fixed assets of $2,120,000. The company’s 2016 income statement showed a depreciation expense of $329,000.

What was the company's net capital spending for 2016? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Net capital spending            $

7- The December 31, 2015, balance sheet of Maria’s Tennis Shop, Inc., showed current assets of $1,195 and current liabilities of $960. The December 31, 2016, balance sheet showed current assets of $1,410 and current liabilities of $1,085.

What was the company's 2016 change in net working capital, or NWC? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Change in net working capital            $

8- The December 31, 2015, balance sheet of Schism, Inc., showed long-term debt of $1,410,000, and the December 31, 2016, balance sheet showed long-term debt of $1,600,000. The 2016 income statement showed an interest expense of $95,000.

What was the firm's cash flow to creditors during 2016? (A negative answer should be indicated by a minus sign. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Cash flow to creditors            $

9- The December 31, 2015, balance sheet of Schism, Inc., showed $144,000 in the common stock account and $2,690,000 in the additional paid-in surplus account. The December 31, 2016, balance sheet showed $154,000 and $2,990,000 in the same two accounts, respectively. The company paid out $149,000 in cash dividends during 2016. 

What was the cash flow to stockholders for the year? (A negative answer should be indicated by a minus sign. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Cash flow to stockholders            $

10- The December 31, 2015, balance sheet of Schism, Inc., showed long-term debt of $1,380,000, $136,000 in the common stock account, and $2,610,000 in the additional paid-in surplus account. The December 31, 2016, balance sheet showed long-term debt of $1,540,000, $146,000 in the common stock account, and $2,910,000 in the additional paid-in surplus account. The 2016 income statement showed an interest expense of $92,000 and the company paid out $141,000 in cash dividends during 2016. The firm’s net capital spending for 2016 was $920,000, and the firm reduced its net working capital investment by $121,000.

What was the firm's 2016 operating cash flow, or OCF? (A negative answer should be indicated by a minus sign. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Operating cash flow            $

11- You are given the following information for Sookie’s Cookies Co.: sales = $51,800; costs = $39,000; addition to retained earnings = $2,380; dividends paid = $965; interest expense = $1,500; tax rate = 40 percent.

Calculate the depreciation expense for the company. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Depreciation expense            $

12- Titan Football Manufacturing had the following operating results for 2016: sales = $19,940; cost of goods sold = $13,820; depreciation expense = $2,210; interest expense = $265; dividends paid = $710. At the beginning of the year, net fixed assets were $21,800, current assets were $3,100, and current liabilities were $1,910. At the end of the year, net fixed assets were $25,940, current assets were $3,600, and current liabilities were $2,000. The tax rate for 2016 was 40 percent.

a. What is net income for 2016? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Net income             $

b. What is the operating cash flow for 2016? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Operating cash flow             $

c. What is the cash flow from assets for 2016? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Cash flow from assets            $

Assume no new debt was issued during the year.

d. What is the cash flow to creditors for 2016? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Cash flow to creditors            $

e. What is the cash flow to stockholders for 2016? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Cash flow to stockholders            $