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FIN 400 Module 1 Assignment Instructions For the following short answer questions, a brief reply is suffice as long as the question is fully answered. For numerical problems, please present your answers in a style that conforms to textbook examples. 100 points total Chapter 1 1. Goal of financial management. What goal should always motivate the actions of a firm's financial manager? (10 points) 2. What are the three types of financial management decision? For each type of decision, give an example of a business transaction that would be relevant. (10 points) 3. Primary market vs. secondary market. You've probably noticed coverage in the financial press of an initial public offering (IPO) of a company's securities. Is an IPO a primary market or secondary market transaction? (10 points) 4. Name two primary advantages and two primary disadvantages of a business being a corporation. (10 points) Chapter 2 1. Book value vs. market value. In preparing a balance sheet, why do you think standard accounting practice focuses on historical cost rather than market value? (10 points) 2. Building a balance sheet. Penguin Pucks, Inc., has current assets of $4,800, net fixed assets of $27,500, current liabilities of $4,200, and long-term debt of $10,500. What is the value of the shareholders' equity account for this firm? How much is net working capital? (10 points) 3. Building an income statement. Billy's Exterminators, Inc., has sales of $734,000, costs of $315,000, depreciation expense of $48,000, interest expense of $35,000, and a tax rate of 35%. What is the net income for this firm? (10 points) 4. Calculate total cash flows. Jetson Spacecraft Corp. shows the following information on its 2011 income statement: Sales = $235,000 Costs = $141,000 Other expenses = $7,900 Depreciation expense = $17,300 Interest expense = $12,900 Taxes = $19,565 Dividends = $12,300 In addition, you are told that the firm issued $6,100 in new equity during 2011 and redeemed $4,500 in outstanding long-term debt. a. What is the 2011 operating cash flow? (10 points) b. What is the 2011 cash flow to creditors? (10 points) c. What is the 2011 cash flow to stockholders? (10 points)