Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1: 2: 3: Wims, Inc., has current assets of $5,000, net fixed assets of $23,800, current liabilities of $4,000, and long-term debt of $8,900. a.

1:

image text in transcribed

2:

image text in transcribed

3:

image text in transcribed

Wims, Inc., has current assets of $5,000, net fixed assets of $23,800, current liabilities of $4,000, and long-term debt of $8,900. a. What is the value of the shareholders' equity account for this firm? (Do not round intermediate calculations.) b. How much is net working capital? (Do not round intermediate calculations.) a. $ Shareholders' equity NWC 159,000 1,000 b. $ Griffin's Goat Farm, Inc., has sales of $674,000, costs of $336,000, depreciation expense of $80,000, interest expense of $50,000, a tax rate of 22 percent, and paid out $43,000 in cash dividends. What is the addition to retained earnings? (Do not round intermediate calculations.) Addition to retained earnings $ 10,800 The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $5.4 million, and the 2018 balance sheet showed long-term debt of $5.8 million. The 2018 income statement showed an interest expense of $130,000. What was the firm's cash flow to creditors during 2018? (A negative answer should be indicated by a minus sign. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) Cash flow to creditors $ 270,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Handbook For Investment Committee Members

Authors: Russell L. Olson

1st Edition

0471719781, 978-0471719786

More Books

Students also viewed these Finance questions