EXHIBITS: INPUT DATA $($for D'Leon$)$

Balance Sheets

$20212020$

Assets

Casha $$7,282$ $$57,600$

Accounts receivable $632,160351,200$

Inventories $1,287,360715,200$

Total current assets $$1,926,802$ $$1,124,000$

Net fixed assets $$939,790$ $$344,800$

Total assets $$2,866,592$ $$1,468,800$

Liabilities and equity

Accounts payable $$524,160$ $$145,600$

Accruals $489,600136,000$

Notes payable $636,808200,000$

Total current liabilities $$1,650,568$ $$481,600$

Long$-$term debt $723,432323,432$

Total liabilities $$2,374,000$ $$805,032$

Common stock $(100,000$ shares$)460,000460,000$

Retained earnings $32,592203,768$

Total common equity $$492,592$ $$663,768$

Total liabilities and equity $$2,866,592$ $$1,468,800$

a Assume that all cash is excess cash; i$.$e$.,$ this cash is not needed for operating purposes.

Income Statements $20212020$

Sales $$6,126,796$ $$3,432,000$

Cost of goods sold $5,528,0002,864,000$

Other expenses $519,988358,672$

Total operating exp. excl. depreciation and amortization $$6,047,988$ $$3,222,672$

Depreciation and amortization $116,96018,900$

Earnings before interest and taxes $($EBIT$)$ $$(38,152)$ $$190,428$

Interest expense $122,02443,828$

Earnings before taxes $($EBT$)$ $$(160,176)$ $$146,600$

Taxes $(25\%)-36,650$

Net income $$(160,176)$ $$109,950$

EPS $$(1\mathrm{.}602)$ $$1\mathrm{.}100$

DPS $$0\mathrm{.}110$ $$0\mathrm{.}275$

Book value per share $$4\mathrm{.}926$ $$6\mathrm{.}638$

Stock price $$2\mathrm{.}25$ $$8\mathrm{.}50$

Shares outstanding $100,000100,000$

Tax rate $25\mathrm{.}00\%25\mathrm{.}00\%$

Lease payments $$40,000$ $$40,000$

Sinking fund payments $00$

Statement of Stockholders' Equity, $2021$

Common Stock Total

Retained Stockholders'

Shares Amount Earnings Equity

Balances, Dec. $31,2020100,000$ $$460,000$ $$203,768$ $$663,768$

Add: Net Income, $2021(160,176)$

Less: Dividends to common stockholders $(11,000)$

Addition $($Subtraction$)$ to Retained Earnings $(171,176)$

Balances, Dec. $31,2021100,000$ $$460,000$ $$32,592$ $$492,592$

Statement of Cash Flows, $2021$

Operating Activities

Net Income $$(160,176)$

Depreciation and amortization $116,960$

Increase in accounts payable $378,560$

Increase in accruals $353,600$

Increase in accounts receivable $(280,960)$

Increase in inventories $(572,160)$

Net cash provided by operating activities $$(164,176)$

Investing Activities

Additions to property, plant, and equipment $$(711,950)$

Net cash used in investing activities $$(711,950)$

Financing Activities

Increase in notes payable $$436,808$

Increase in long$-$term debt $400,000$

Payment of cash dividends $(11,000)$

Net cash provided by financing activities $$825,808$

Summary

Net decrease in cash $$(50,318)$

Cash at beginning of the year $57,600$

Cash at end of the year $$7,282$

$3.$ Using Module $1$ Exam A file: What is the value of AT Net Operating Working Capital$21?$

a$\mathrm{.}1,919,520$

b$\mathrm{.}784,800$

c$\mathrm{.}905,760$

d$\mathrm{.}1,066,400$