Calculate DFL, Degree Financial Leverage Suppose that Tax Rate 24% ? 2020 *Select one O'Keefe Industries Balance Sheet as of December 31, 2020 2020 2019 2020 2019 Cash & Cash equivalents 9600 5600 Accounts Payable 6827 4160 Marketability Securities 8533 3200 Notes Payable 3277 1664 Accounts Receivable 12800 7200 Accruals 12800 10400 Notes Receivable 7680 7680 Total Current Liabilities 22903 16224 Invertory 10667 6400 long-Term Debt 18323 9734 Total Current assets 49280 30080 Total Liabilities 41226 25958 Stockholders Paid-in Capital (common stock) par Value 3 $ 27000 27000 Compulsory Reserves 10667 8000 Voluntary Reserve 3456 2704 Retained Earnings 2463 2515 Net Fixed Assets 39532 40097 Preferred Stock 4000 4000 Total Equity 47586 44219 Total Assets 88812 70177 Total Liabilities & Shareholders 88812 70177 O'Keefe Industries Income Statement December 31, 2020 2020 2019 Net Sales Less Cost of Goods Sold Assume gross profits Less: Total Operating Expenses 106667 80000 42667 32000 64000 48000 Selling Expense General & Administrative Expenses Depreciation 9600 6400 10667 6960 10667 4800 10667 6960 Depreciation Lease Expense(Payments) 10667 4800 4267 2800 Total Operating Expenses 35200 20960 EBIT (Operating Income) 28800 27040 Net other Revenue 3413 1280 Net Income Before Interest & Taxes 32213 28320 Less: Interest Expense 6184 3894 Net Income Before Taxes 26029 24426 Less: Taxes 24% 6247 8549 Net Income after Interest and Taxes 19782 15877 Less: Preferred Stock Dividends 3363 1906 Net Income available for Common Equity Market Price Per share 16419 13972 8 15.58 degree 1.97 degree 1.58 degree 1.25 degree 1.49 degree