Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Intro Creminy, Inc. has revenue of $93,000, costs of $46,500, depreciation of $13,000, and interest expenses of $9,000. The average tax rate is 0.34. The

image text in transcribedimage text in transcribed

Intro Creminy, Inc. has revenue of $93,000, costs of $46,500, depreciation of $13,000, and interest expenses of $9,000. The average tax rate is 0.34. The balance sheet shows current assets of $23,000, current liabilities of $19,000 and net fixed assets of $94,000 for the most recent year, and current assets of $18,000, current liabilities of $14,000 and net fixed assets of $75,000 for the previous year. Attempt 1/10 for 10 pts. Part 1 What is Creminy's net income? 16170 Correct Part 2 18 | Attempt 1/10 for 10 pts. What is the operating cash flow? For current purposes, use the tax figure calculated in the previous part. 0+ decimals Submit | Attempt 2/10 for 10 pts. Part 3 What is net capital spending? 0+ decimals Previous answers: 6000 Submit JA | Attempt 1/10 for 10 pts. Part 4 What is the change in net working capital? 0 Correct Part 5 IB Attempt 1/10 for 10 pts. What is the cash flow from assets? 0+ decimals Submit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Causal Effects Econometric Challenges

Authors: Douglas A Schroeder

1st Edition

1441972242, 9781441972248

More Books

Students also viewed these Accounting questions

Question

5.6 Describe alternatives to recruitment?

Answered: 1 week ago

Question

5.4 Identify external recruitment sources.

Answered: 1 week ago