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You have just been hired as a financial analyst for Barrington Industries. Unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. So, your first job will be to recreate the firm's cash flow statement for the year just ended. The firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. It earned $5 million in net income during the year but paid $750,000 in dividends to common shareholders. Throughout the year, the firm purchased $5.4 million of machinery that was needed for a new project. You have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $450,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. Finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 6% interest rate. What was the firm's end-of-year cash balance? Recreate the firm's cash flow statement to arrive at your answer. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dollar, if necessary.
Which of the following is NOT accurate regarding evaluating NPV estimates and break-even analysis?
Herky Foods is considering acquisition of a new wrapping machine. Based on the? project's NPV?, should Herky make this? investment?
Its average daily sales are 969,000 and its gross profit margin is 30 percent. What is the firm's cash conversion cycle?
Union Local School District has bonds outstanding with a coupon rate of 4.7 percent paid semiannually and 22 years to maturity. The yield to maturity on these bonds is 4.1 percent and the bonds have a par value of $10,000. What is the dollar price of..
Consider an asset that costs $255,200 and is depreciated straight-line to zero over its 10-year tax life. what is the aftertax cash flow from sale of this asset
Halliford Corporation expects to have earnings this coming year of $3.000 per share. Halliford plans to retain all of its earnings for the next two years. Then, for the subsequent two years, the firm will retain 50% of its earnings. If Halliford's eq..
You bought an annuity selling at $12,131.06 today that promises to make equal payments at the beginning of each year for the next 6 years (N).
At expiration the stock is at $55.93. What is the net economic gain or loss on the entire stock & Option portfolio?
Mulroney Corp. is considering two mutually exclusive projects. Both require an initial investment of $10,000 at t = 0. Project X has an expected life of 2 years with after-tax cash inflows of $6,000 and $7,800 at the end of Years 1 and 2, respectivel..
Describe the two circumstances in which an effective rate is used.
The Fleming Corporation anticipates a nonconstant growth pattern for dividends. Dividends at the end of year 1 are $2 per share and are expected to grow by 16 percent per year until the end of year 5 (that’s four years of growth). Find the present va..
The beta of M Simon Inc., stock is 1.8, whereas the risk-free rate of return is 0.09. If the expected return on the market is 0.16, then what is the expected return on M Simon Inc?
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