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LQ2. (20 points) I. During the year 2022, Cita Co reported sales and cost of good sold of $600 million and $300 million respectively.
LQ2. (20 points) I. During the year 2022, Cita Co reported sales and cost of good sold of $600 million and $300 million respectively. Depreciation was $150 million and interest paid was $30 million. It is assumed that the company was taxed at 34%. The Board of Directors of Cita declared a dividend of $30 million in that year. In addition, you found the below additional information for Cita Co for the year 2022: Beginning net fixed asset = $500 million (i) (ii) Ending net fixed asset = $750 million (iii) Beginning current asset = $2130 million (iv) Beginning current liabilities = $1620 million (v) Ending current asset = $2125 million (vi) Ending current liabilities = $1710 million (vii) No new equity raised during the period
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