Question
Fair-to-Midland Manufacturing, Inc., (FMM) has applied for a loan at True Credit Bank. Jon Fulkerson, the credit analyst at the bank, has gathered the following
| Fair-to-Midland Manufacturing, Inc., (FMM) has applied for a loan at True Credit Bank. Jon Fulkerson, the credit analyst at the bank, has gathered the following information from the companys financial statements: |
| Total assets | $115,000 |
| EBIT | 8,900 |
| Net working capital | 5,400 |
| Book value of equity | 39,000 |
| Accumulated retained earnings | 18,800 |
| Sales | 112,000 |
| The stock price of FMM is $41 per share and there are 7,000 shares outstanding. What is the Z-score for this company? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.) |
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
Small Business Finance And Valuation
Authors: Rick Nason, Dan Nordqvist
1st Edition
1952538122, 9781952538124
