Question
1. A firm reported Net Fixed Assets of $2,674,000 on its end-of-year 2014 balance sheet and Net Fixed Assets of $3,192,000 on its end-of-year 2015
1. A firm reported Net Fixed Assets of $2,674,000 on its end-of-year 2014 balance sheet and Net Fixed Assets of $3,192,000 on its end-of-year 2015 balance sheet. If the depreciation expense of the firm's 2015 income statement was $520,000, what was the firm's net capital spending in 2015?
A. $518,000
B. $1,038,000
C. $3,194,000
D. $2,468,000
2.
CadMann Inc. had $318,000 in 2017 taxable income. Using the rates table below, calculate the company's 2017 income tax amount.
Taxable Income | Tax Rate |
$ 0 50,000 | 15% |
50,001 75,000 | 25% |
75,001 100,000 | 34% |
100,001 335,000 | 39% |
A. $109,100
B. $107,270
C. $124,020
D. $113,900
3. During 2020, Dazang Inc. had sales of $15,214,000. Depreciation, Administrative and General Expenses, and Cost of Goods Sold were $1,220,000, $2,183,800, and $7,630,100, respectively. In addition, the company had interest expense of $980,000 and a tax rate of 21 percent. What is Dazang's operating cash flow?
A. $4,728,079
B. $3,508,079
C. $2,524,079
D. $3,196,100
E. $4,176,100
4. During 2016, SunBell Inc. had sales of $11,874,000. Cost of goods sold, administrative and general expenses, and depreciation expense were $4,620,000, $1,704,000, and $910,000 respectively. In addition, the company had interest expense of $540,000 and a tax rate of 34 percent. What is SunBell's net income for 2016?
A. $3,062,400
B. $2,706,000
C. $1,736,500
D. $4,100,000
5. If Kraffty Inc. has a profit margin of 15.2 percent, total asset turnover of 1.24 and ROE of 28.1 percent, what is the firm's debt-equity ratio?
A. 0.49
B. 1.47
C. 0.71
D. 0.84
E. 1.71
(Just need the answers please. Trying to check my work. Thank you.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started