Fin 571 week 2 connect problems assignment by Student E Help

FIN 571 WEEK 2 CONNECT PROBLEMS

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1. Sankey, Inc., has current assets of $5,000, net fixed assets of $23,000, current liabilities of $3,500, and long-term debt of $7,900. (Do not round intermediate calculations.) What is the value of the shareholders' equity account for this firm? Shareholders' equity $_________ How much is net working capital? Net working capital $_________ 2. Which one of these accounts is classiﬁed as a current asset on the balance sheet? •intangible asset •accounts payable •preferred stock •inventory •net plant and equipment Complete FIN 571 week 2 connect problems Answers here FIN 571 Week 2 Connect Problems

3. It is easier to evaluate a firm using its financial statements when the firm: •is a conglomerate. •is global in nature. •uses the same accounting procedures as other firms in its industry. •has a different fiscal year than other firms in its industry. •tends to have one-time events such as asset sales and property acquisitions. 4. The cash flow resulting from a firm's ongoing, normal business activities is referred to as the: •operating cash flow. •net capital spending. •additions to net working capital. •cash flow to retained earnings. •cash flow to investors. FIN 571 final exam (newest) download now FIN 571 Final Exam (Newest) Copyright All Rights Reserved By http://www.studentehelp.com/

5. Which one of these is a non-cash item? •depreciation •interest expense •current taxes •dividends •selling expenses 6. Sankey, Inc., has current assets of $5,000, net fixed assets of $23,300, current liabilities of $4,450, and long-term debt of $11,000. (Do not round intermediate calculations.) What is the value of the shareholders' equity account for this firm? Shareholders' equity $_________ How much is net working capital? Net working capital $_________ FIN 571 complete paper here FIN 571 Copyright All Rights Reserved By http://www.studentehelp.com/

7. Shelton, Inc., has sales of $401,000, costs of $189,000, depreciation expense of $54,000, interest expense of $35,000, and a tax rate of 30 percent. (Do not round intermediate calculations.) What is the net income for the firm? Net income $_________ Suppose the company paid out $44,000 in cash dividends. What is the addition to retained earnings? Addition to retained earnings $_________ 8. During the year, the Senbet Discount Tire Company had gross sales of $1.17 million. The firm’s cost of goods sold and selling expenses were $536,000 and $226,000, respectively. The firm also had notes payable of $910,000. These notes carried an interest rate of 6 percent. Depreciation was $141,000. The firm’s tax rate was 40 percent. a. What was the firm’s net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.) Net income $_________ b. What was the firm’s operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.) Operating cash flow $_________ Want FIN 571 week 6 quiz details? Download now FIN 571 Week 6 Quiz

9. Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent): 2014 2015 Sales $9,535 $ 10,109 Depreciation 1,295 1,296 Cost of goods sold 2,866 3,230 Other expenses 809 704 Interest 695 773 Cash 4,279 5,373 Accounts receivable 5,609 6,297 Short-term notes payable 964 916 Long-term debt 15,330 17,750 Net fixed assets 36,155 37,317 Accounts payable 4,656 4,355 Inventory 9,840 10,108 Dividends 1,126 1,221 Prepare an income statement for this company for 2014 and 2015. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.) Copyright All Rights Reserved By http://www.studentehelp.com/

Ingersoll, Inc. Income Statement

Sales Cost of goods sold Other expenses Depreciation EBIT Interest EBT Taxes Net income Dividends Additions to RE

2014 $____ _____ _____ _____ $_____% ______ $_____% ______% $_____% $_____ ______%

2015 $______ _______ _______ _______ $______% _______ $______% _______% $______% $______ _______%

Prepare the balance sheet for this company for 2014 and 2015. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.)

Ingersoll, Inc. Balance Sheet as of Dec. 31

Assets Cash Accounts receivable Inventory Current assets Net fixed assets Total assets Liabilities Accounts payable Notes payable Current liabilities Long-term debt Owners' equity Total liabilities & owners' equity

2014

2015

$______ _______ _______ $______% _______ $______%

$______ _______ _______ $______ _______ $_______%

$______ _______ $______% _______ _______% $______%

$______ _______ $_______% _______ ________% $_______%

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10. The total asset turnover ratio measures the amount of: •total assets needed for every $1 of sales. •sales generated by every $1 in total assets. •ﬁxed assets required for every $1 of sales. •net income generated by every $1 in total assets. •net income than can be generated by every $1 of ﬁxed assets.

11. The current ratio is measured as: •current assets minus current liabilities. •current assets divided by current liabilities. •current liabilities minus inventory, divided by current assets. •cash on hand divided by current liabilities. •current liabilities divided by current assets. 12. Which statement expresses all accounts as a percentage of total assets? •pro forma balance sheet •common-size income statement •statement of cash ﬂows •pro forma income statement •common-size balance sheet Find FIN 571 Week 4 Connect Problems quiz answers here FIN 571 Week 4 Connect Problems

13. Ratios that measure how efficiently a firm's management uses its assets and equity to generate bottom line net income are known as _______ ratios. •asset management •long-term solvency •short-term solvency •profitability •market value 14. Ratios that measure a firm's ability to pay its bills over the short run without undue stress are known as: •asset management ratios. •long-term solvency measures. •liquidity measures. •profitability ratios. •market value ratios. 15. Which one of the following sets of ratios would generally be of the most interest to stockholders? •return on assets and profit margin •quick ratio and times interest earned •price-earnings ratio and debt-equity ratio •return on equity and price-earnings ratio •cash coverage ratio and equity multiplier

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16. The receivables turnover ratio is measured as: •sales plus accounts receivable. •sales divided by accounts receivable. •sales minus accounts receivable, divided by sales. •accounts receivable times sales. •accounts receivable divided by sales. 17. The Purple Martin has annual sales of $4,800, total debt of $1,210, total equity of $2,500, and a proﬁt margin of 7 percent. What is the return on assets? •7.00 percent •9.06 percent •13.44 percent •11.74 percent •27.77 percent 18. A ﬁrm has a debt-equity ratio of .38. What is the total debt ratio? •.61 •.39 •.28 •1.63 •1.38

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19. A ﬁrm has total debt of $1,100 and a debt-equity ratio of .31. What is the value of the total assets? •$3,100 •$4,648 •$1,441 •$3,420 •$3,548

20. The inventory turnover ratio is measured as: •total sales minus inventory. •inventory times total sales. •cost of goods sold divided by inventory. •inventory divided by cost of goods sold. •inventory divided by sales. 21. A firm has a total debt ratio of .47. This means the firm has 47 cents in debt for every: •$1 in total equity. •$.53 in total assets. •$1 in current assets. •$.53 in total equity. •$1 in fixed assets. Download FIN 571 Week 2 Complete Answers FIN 571 Week 2 Connect Problems

22. The higher the inventory turnover, the: •less time inventory items remain on the shelf. •higher the inventory as a percentage of total assets. •longer it takes a firm to sell its inventory. •greater the amount of inventory held by a firm. •lesser the amount of inventory held by a firm. 23. Galaxy United, Inc. 2009 Income Statement ($ in millions)

Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income

$ 8,500 7,150 420 930 82 848 297 $ 551

Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in millions) 2008 2009 Cash $ 130 $ 160 Accounts payable Accounts rec. 950 780 Long-term debt Inventory 1,480 1,520 Common stock Sub-total $2,560 $2,460 Retained earnings Net ﬁxed assets 3,160 3,650 Total assets $5,720 $6,110 Total liab. & equity

2008 $1,110 980 $3,130 500

2009 $1,140 1,290 $2,930 750

$5,720

$6,110

What is the return on equity for 2009? •13 percent •10 percent •15 percent •18 percent •16 percent 24. If Wilkinson, Inc., has an equity multiplier of 1.47, total asset turnover of 1.6, and a profit margin of 5.7 percent, what is its ROE? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) ROE _________%

25. The financial ratio measured as net income divided by sales is known as the firm's: •profit margin. •return on assets. •return on equity. •asset turnover. •earnings before interest and taxes.

26. The financial ratio that measures the accounting profit per dollar of book equity is referred to as the: •profit margin. •price-earnings ratio. •return on equity. •equity turnover. •market profit-to-book ratio. 27. Puffy's Pastries generates five cents of net income for every $1 in equity. Thus, Puffy's has _______ of 5 percent. •a return on assets •a profit margin •a return on equity •an EV multiple •a price-earnings ratio

28. If stockholders want to know how much profit the firm is making on their entire investment in that firm, the stockholders should refer to the: •profit margin. •return on assets. •return on equity. •equity multiplier. •earnings per share. 29. The most effective method of directly evaluating the financial performance of a firm is to compare the financial ratios of the firm to: •the firm?s ratios from prior time periods and to the ratios of firms with similar operations. •the average ratios of all firms within the same country over a period of time. •those of other firms located in the same geographic area that are similarly sized. •the average ratios of the firm?s international peer group. •those of the largest conglomerate that has operations in the same industry as the firm. Download the FIN 571 Week 4 Connect Problems Assignment..? Click FIN 571 Week 4 Connect Problems Copyright All Rights Reserved By http://www.studentehelp.com/

30. Which one of these equations is an accurate expression of the balance sheet? •Assets ? Liabilities −Stockholders? equity •Stockholders? equity ? Assets + Liabilities •Liabilities ? Stockholders? equity −Assets •Assets ? Stockholders? equity −Liabilities •Stockholders? equity ? Assets –Liabilities 31. The financial statement summarizing a firm's accounting performance over a period of time is the: •income statement. •balance sheet. •statement of cash flows. •tax reconciliation statement. •statement of equity.

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