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ACCOUNTING 17-46 envces 1201201212010 12/1/20y 57500,000$00,000 (4,575,000 (4,620.000) (248,000)(4,79,000) 2925,000 3080,000 2.952000 21,00072.00 (s5,000) (1,830.000) (1.925.000)(2140000)528 000 For the Years Ended 7200000 8100,000 Gross Proft Opeating Expeves 2210 1027,000 118000 Nonoperating Income (Loss) 25.000) nvestment Income Loss) Gain QLoss) on ixed Assets Incerest Expense income Before Taxe ncome Tax Expense (60,000) (120,000)55.000Booo 10,000 95,000)4000) 00oo) (86,000) 809,000 1,151,000 1,300000 1,160,000 1121,500 (B45000) 836450) 242700) 845,300) $812,000 $566,300805.700 5785,050 $910,000 Retained Earni4897050 $313.350$5968 05 Beg Bal in Retained Eamings $3,500,000 $4,212000 566,300 805,700 812,000 (150.000) (150,000) (100000) (00,000) Bal in Retained Earrings $4,212.000 $4,897050 (150,0ou $$5.313350 $5.969,050$6723,059 $640,0005980,000 1200,000 Cash Dividends Other Information Cash Flow, Operating PVE Ratio for Industry 5950.000 10 13 tax rate is 30% a. Compute the value of a 75 percent interest in L&.8 Enterprises allowing for these assumptions Minority interest discoung Lack of marketability discount Five year weighted average earnings with most recent years weighted heaviest, using net income Loss of a key person discount 20% unweighted average P/E ratio for earnings capitalization b. Compute the value of a 35 percent interest in L&B Enterprises allowing for these assumptions: Minority interest discount Control premium Lack of marketability discount Loss of a key person discount Five-year unweighted average earnings with most recent years weighted heaviest, using net income 30% Five year unweighted average P/E ratio for earnings capitalization BUSINESS VALUATIONS 17-47 ute the value of a 45 percent interest in L&B Enterprises allowing for these Minority interest discount P/E ratio for Which is not a certification for valuation experts? 32. Which is not a market valuation approach? a. Guideline public company method. b. Market data method. c. Past transaction method d. Book value e All the above are market approaches. CBA. ABV ACCOUNTING 17-46 envces 1201201212010 12/1/20y 57500,000$00,000 (4,575,000 (4,620.000) (248,000)(4,79,000) 2925,000 3080,000 2.952000 21,00072.00 (s5,000) (1,830.000) (1.925.000)(2140000)528 000 For the Years Ended 7200000 8100,000 Gross Proft Opeating Expeves 2210 1027,000 118000 Nonoperating Income (Loss) 25.000) nvestment Income Loss) Gain QLoss) on ixed Assets Incerest Expense income Before Taxe ncome Tax Expense (60,000) (120,000)55.000Booo 10,000 95,000)4000) 00oo) (86,000) 809,000 1,151,000 1,300000 1,160,000 1121,500 (B45000) 836450) 242700) 845,300) $812,000 $566,300805.700 5785,050 $910,000 Retained Earni4897050 $313.350$5968 05 Beg Bal in Retained Eamings $3,500,000 $4,212000 566,300 805,700 812,000 (150.000) (150,000) (100000) (00,000) Bal in Retained Earrings $4,212.000 $4,897050 (150,0ou $$5.313350 $5.969,050$6723,059 $640,0005980,000 1200,000 Cash Dividends Other Information Cash Flow, Operating PVE Ratio for Industry 5950.000 10 13 tax rate is 30% a. Compute the value of a 75 percent interest in L&.8 Enterprises allowing for these assumptions Minority interest discoung Lack of marketability discount Five year weighted average earnings with most recent years weighted heaviest, using net income Loss of a key person discount 20% unweighted average P/E ratio for earnings capitalization b. Compute the value of a 35 percent interest in L&B Enterprises allowing for these assumptions: Minority interest discount Control premium Lack of marketability discount Loss of a key person discount Five-year unweighted average earnings with most recent years weighted heaviest, using net income 30% Five year unweighted average P/E ratio for earnings capitalization BUSINESS VALUATIONS 17-47 ute the value of a 45 percent interest in L&B Enterprises allowing for these Minority interest discount P/E ratio for Which is not a certification for valuation experts? 32. Which is not a market valuation approach? a. Guideline public company method. b. Market data method. c. Past transaction method d. Book value e All the above are market approaches. CBA. ABV