Question
Balance Sheet (Millions of $)Assets 2021 Cash and securities $3,000 Accounts receivable 15,000 Inventories 18,000 Total current assets $36,000 Net plant and equipment $24,000 Total
Balance Sheet (Millions of $)Assets 2021
Cash and securities $3,000
Accounts receivable 15,000
Inventories 18,000
Total current assets $36,000
Net plant and equipment $24,000
Total assets $60,000
Liabilities and Equity Accounts payable $17,160
Accruals 9,240
Notes payable 6,000
Total current liabilities $32,400
Long-term bonds $12,000
Total liabilities $44,400
Common stock $3,900
Retained earnings 11,700
Total common equity $15,600
Total liabilities and equity $60,000
Income Statement (Millions of $)2021Net sales $66,000
Operating costs except depreciation61,380
Depreciation 1,320
Earnings before interest and taxes (EBIT) $3,300
Less interest 1,080
Earnings before taxes (EBT) $2,220
Taxes (25%) 555
Net income $1,665
Other data: Shares outstanding (millions) 500.00
Common dividends (millions of $) $582.75
Int. rate on notes payable & L-T bonds 6%
Federal plus state income tax rate 25%
Year-end stock price $39.96
Questions:
What is the firm's total assets turnover? Do not round your intermediate calculations.
What is the firm's TIE?
What is the firm's operating margin?
What is the firm's equity multiplier?
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
Banking And Beyond The Evolution Of Financing Along Traditional And Alternative Avenues
Authors: Caterina Cruciani, Gloria Gardenal , Elisa Cavezzali
1st Edition
3030457516,3030457524
