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At year-end 2013, Wallace Landscaping’s total assets were $1.5 million and its accounts payable were $415,000. Sales, which in 2013 were $2.6 million, are expected to increase by 30% in 2014. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $415,000 in 2013, and retained earnings were $235,000. Wallace has arranged to sell $195,000 of new common stock in 2014 to meet some of its financing needs. The remainder of its financing needs will be met by issuing new long-term debt at the end of 2014. (Because the debt is added at the end of the year, there will be no additional interest expense due to the new debt.) Its profit margin on sales is 8%, and 60% of earnings will be paid out as dividends. What was Wallace's total long-term debt in 2013? Round your answer to the nearest dollar. $ What were Wallace's total liabilities in 2013? Round your answer to the nearest dollar. $ How much new long-term debt financing will be needed in 2014? (Hint: AFN - New stock = New long-term debt.) Round your answer to the nearest dollar. $
What is the yield to call of a 20 year maturity bond that pays a coupon rate of 6.54 percent per year, has $1000 par value, and is currently priced at $1104? The bond can be called back in 7 years at a call price of 1056. Assume annual coupon payment..
McLemore Industries has a zero coupon bond issue that matures in two years with a face value of $35,000. The current value of the company’s assets is $19,900, and the standard deviation of the return on assets is 54 percent per year. Assume the risk-..
You want to purchase a truck for $25,000 and you have $3,450 to put down. a. How much will your payments be if you financed the truck for 60 months at 6%? b. How much would the payment be if rate of interest is 5% and you only financed the truck for ..
What would be the benefit to multinational corporations, such as CEMEX, Marks and Spencer, and Dow Corning, of participating in this effort? What distinctive contributions can social entrepreneurs make to promoting clean cook stove.
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Write a review of an article relating to Qualified plans and write a review and analysis. In your own words, explain the key points that the author is trying to communicate
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Developing good note-taking and paraphrasing strategies, to effectively summarize academic resources, is a difficult process for students to learn.’ Students should be able to locate, paraphrase, summarise and comprehend simple to complex English tex..
One of your customers is delinquent on his accounts payable balance. You’ve mutually agreed to a repayment schedule of $500 per month. You will charge 1.45 percent per month interest on the overdue balance. If the current balance is $13,500, how long..
A group of private investors purchased a condominium complex for $2 million. They made an initial down payment of 10% and obtained financing for the balance. If the loan is to be amortized over 11 years at an interest rate of 8.6%/year compounded qua..
The Corporate Treasury is typically responsible for each of the following duties except
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