1. The financial statements of Auto precision limited reflect cash of $10,600, accounts receivable of $15,000, accounts payable of 22,900, inventory of $23.000, long-term debt of $45,000, and net fixed assets of $83,800. The firm estimates that if it wanted to cease operations today it could sell the inventory for $35,000, the fixed assets for $50,000 and cash at hand $ 20,000. The firm could also collect 100 percent of its receivables. Calculate both the book value and market value of the firm's assets? 2. Old Town Coffee has sales of $581,000, costs of $350,700, depreciation expense of $35,000, and interest paid of $8,400. The tax rate is 15 percent. How much net income after interest and tax did the firm earn for the period? 3. Old Town Coffee has a marginal tax rate of 35 percent and an average tax rate of 20.7 percent. If the firm earns $158.500 in taxable income, how much will it owe in taxes? 4. Rashid owes $68,329 in tax on a taxable income of $750,600. The company has determined that it will owe $85.211 in tax if its taxable income rises to $975,000. What is the marginal tax rate at this level of income? 810 3200411 5. The Plaza Cafe has an operating cash flow of $78,460, depreciation expense of $8.960, and taxes paid of $21,590. A partial listing of its balance sheet accounts is as follows: Beginning Balonce Ending Balance Current asset 3141.00 3138.500 Netfixed ones Current lobis 187340 I.SI Long term debt 337000 5248000 What is the amount of the cash flow from assets? 6. Zubeir Engineering paid $2,000 in dividends and $9,500 in interest over the past year while networking capital increased from $53,506 to 568,219. The company purchased S92,000 in net new fixed assets and had depreciation expenses of $20,800. Over the year, the firm's equity increases from $24,000 to $ 25,000 and its net borrowing is $8.000. What is the amount of the cash flow from assets? 7. Jetti Factory has net sales of $821.300 and costs of $698,500. The depreciation expense is $28,400 and the interest paid is $8,400. What is the amount of the firm's operating cash flow if the tax rate is 34 percent