Finance
Question description
1.
| Jetson Spacecraft Corp. shows the following information on its 2011 income statement: sales = $244,000; costs = $144,000; other expenses = $7,900; depreciation expense = $18,000; interest expense = $13,200; taxes = $21,315; dividends = $10,000. In addition, you’re told that the firm issued $4,700 in new equity during 2011 and redeemed $3,200 in outstanding long-term debt. |
| a. | What is the 2011 operating cash flow? |
| Operating cash flow | $ ??? |
| b. | What is the 2011 cash flow to creditors? |
| Cash flow to creditors | $ ??? |
| c. | What is the 2011 cash flow to stockholders? |
| Cash flow to stockholders | $ ??? |
| d. | If net fixed assets increased by $30,000 during the year, what was the addition to NWC? |
| Addition to NWC | $ ??? |
2.
| Prepare a 2011 balance sheet for Cornell Corp. based on the following information: cash = $132,000; patents and copyrights = $630,000; accounts payable = $212,500; accounts receivable = $102,500; tangible net fixed assets = $1,630,000; inventory = $295,500; notes payable = $185,000; accumulated retained earnings = $1,268,000; long-term debt = $850,000. (Be sure to list the accounts in order of their liquidity.) |
| CORNELL COP. Balance Sheet |
|
| Assets | |
| (Click to select)Notes payableCashAccounts receivableAccounts payableInventory | $ ??? |
| (Click to select)Accounts receivableIntangible net fixed assetsTangible net fixed assetsNotes payableAccounts payable | |
| (Click to select)CashInventoryAccounts payableCommon stockAccounts receivable | |
| Current assets | $ ??? |
| (Click to select)Accounts payableAccounts receivableIntangible net fixed assetsTangible net fixed assetsInventory | |
| (Click to select)Accumulated retained earningsCommon stockTangible net fixed assetsIntangible net fixed assetsNotes receivable | |
| Total assets | $ ??? |
| Liabilities | |
| (Click to select)Notes payableLong-term debtAccounts receivableAccumulated retained earningsAccounts payable | $ ??? |
| (Click to select)Notes payableCommon stockLong-term debtNotes receivableAccumulated retained earnings | |
| Current liabilities | $ ??? |
| (Click to select)CashInventoryAccounts payableAccounts receivableLong-term debt | |
| Total liabilities | $ ??? |
| (Click to select)Notes receivableCommon stockAccounts payableAccounts receivableNotes payable | |
| (Click to select)Accumulated retained earningsNotes payableCashAccounts payableCommon stock | |
| Total liabilities & owners’ equity | $ ??? |
3.
| Use the following information for Taco Swell, Inc., (assume the tax rate is 30 percent): |
| 2010 | 2011 | |||
| Sales | $ | 21,073 | $ | 18,636 |
| Depreciation | 1,851 | 1,926 | ||
| Cost of goods sold | 4,929 | 4,897 | ||
| Other expenses | 1,041 | 919 | ||
| Interest | 890 | 1,021 | ||
| Cash | 6,352 | 7,036 | ||
| Accounts receivable | 8,230 | 9,997 | ||
| Short-term notes payable | 1,360 | 1,337 | ||
| Long-term debt | 20,890 | 25,111 | ||
| Net fixed assets | 51,306 | 58,120 | ||
| Accounts payable | 4,688 | 5,214 | ||
| Inventory | 14,606 | 15,478 | ||
| Dividends | 1,900 | 1,808 |
| For 2011, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders.(Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places.) |
| Cash flow from assets | $ ??? |
| Cash flow to creditors | $ ??? |
| Cash flow to stockholders | $ ??? |
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