Building a Balance Sheet

• KCCO, INC. has current assets of $5, 300, net fixed assets of $24,900, current liabilities of $4,600, and long-term debt of $10,300. What is the value of the shareholders equity account for this firm?How much is net working capital?

(c) Building an Income Statement

• Billys Exterminators, Inc., has sales of $817,000, costs of $343,000 depreciation expense of $51,000, interest expense of $38,000, and a tax rate of 35 percent. Calculate the net income for this firm.

(d) Calculating OCF (Operating Cash Flow)

• Ridiculousness, Inc., has sales of $43,800, costs of $22,700, .depreciation expense of $2,100, and income expense of $1,600. If the tax rate is 35 percent, what is the operating cash flow or OCF?

(e) Calculating Net Capital Spending

• Bowers Driving Schools 2014 balance sheet showed net fixed assets of $2.7 million, and the 2015 balance sheet showed net fixed assets of $3.5 million. The companys 2015 income statement showed a depreciation expense of $328,000. What was net capital spending for 2015?

(f) Using Income Statements

• Given the following information for Gandolinno Pizza Co., calculate the depreciation expense: sales = $61,000,, costs = $29,600, addition to retained earnings = $5,600, dividends paid = $1,950, interest expense = $4,300; tax rate + 35 percent.

(g) Preparing a Balance Sheet

• Prepare a 2015 balance sheet for Cornell Corporation based on the following information: cash = $134,000; patents and copyrights = $670,000; accounts payable = $210,000, accounts receivable = $105,000; tangible net fixed assets = $1,730,000; inventory = $293,000; notes payable = $160,000; accumulated retained earnings = $1,453,000; long-term debt = $845,000.