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At year-end 2016, total assets for Arrington Inc. were $1.5 million and accounts payable were $350,000. Sales, which in 2016 were $2.9 million, are expected to increase by 15% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained; that is, they will grow at the same rate as sales. Arrington typically uses no current liabilities other than accounts payable. Common stock amounted to $500,000 in 2016, and retained earnings were $285,000. Arrington plans to sell new common stock in the amount of $50,000. The firm's profit margin on sales is 6%; 35% of earnings will be retained.
What were Arrington's total liabilities in 2016? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest cent.
Euro was established as a result of the Economic union between countries in Europe to give them more power. How was its value determined?
Suppose the expected returns and standard deviations of Stocks A and B are E(RA) = .094, E(RB) = .154, sA = .364, and sB = .624. a-1.
Which of the following is NOT true with respect to interest rate arbitrage?
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Both Berkley and Oakley are large public corporations with subsidiaries throughout the world. Berkley uses a centralized approach and makes most of the decisions for its subsidiaries. Oakley uses a decentralized approach and its subsidiaries make man..
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Calculate the cost of equity capital for the company.
Which of the following contains both secured and unsecured short-term liabilities?
What was the capital gain of the TIPS in dollars?
Your investment strategy is to maximize expected return but with a risk level (standard deviation) that does not exceed 15%. Since you are a CAPM believer, you hold a combination of the market portfolio and risk free asset. the market expected return..
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