Below are financial statements for the year 2020 and 2019 of United Manufacturing Co.

	2020	2019
Sales	$5,000,000	$4,500,000
Cost of goods sold	3,500,000	3,130,000
Operating expenses	790,000	760,000
Depreciation expense	275,000	250,000
Interest expense	25,000	20,000
Earnings before tax	410,000	340,000
Taxes	110,000	90,000
Net income	$300,000	$250,000
Cash	$250,000	$225,000
Accounts receivable	750,000	675,000
Inventory	710,000	610,000
Total current assets	1,710,000	1,510,000
Net property, plant, equip.	1,285,000	1,185,000
Total assets	$2,995,000	$2,695,000
Accounts payable	855,000	810,000
Accrued Expenses	600,000	570,000
Total current liabilities	1,455,000	1,380,000
Long-term debt	500,000	450,000
Common stock	250,000	225,000
Retained earnings	790,000	640,000
Total liabilities & equity	$2,995,000	$2,695,000

What was the net capital spending for 2020?

a. $100,000

b. $175,000

c. $375,000

d.$250,000

What were the total dividend payouts in 2020?

a. 150000

b. 0

c. 100000

d. 25000

What is the operating cash flow for 2020?

What is the inventory turnover for 2020

a. 7.04

b 4.93

c 4.67

d. 6.67

The company has 100000 shares outstanding. For 2020 what is the book value per share?

The company is publicly traded and has an equity market capitalization of $5,785,000. Based on the information for 2020 what is the enterprise value-EBITDA multiple for United Manufacturing (round to two decimals)?

a. 8.85

b. 8.50

c. 7.80

d. 8.15

Based on the above 2020 results, using the Dupont formula and reducing the equity multipler by 1.0 what would be the return on equity (round your answer to one decimal)?

a. 28.9%

b. 10.4%

c. 38.9%

d. 18.8%

Based on the Cash Flow Identity what was the Cash Flow from Assets for 2020?

a. $100,000

b. $225,000

c. $125,000

d. $220,000

Based on the Cash Flow Identity what was the Cash Flow (to)/from Creditors for 2020?

a $50,000

b $25,000

c ($25,000)

d ($75,000)