please show the work and provide correct answers. This is from financial management course

In-Class Exercise - Accounting Review Chapter 2 - Financial Statements, Cash Flow, and Taxes 1. Frederickson Office Supplies recently reported $12,500 of sales, $7,250 of operating costs other than depreciation, and $1,250 of depreciation. The company had no amortization charges and no non- operating income. It had $8,000 of bonds outstanding that carry a 7.5% interest rate, and its federal-plus- state income tax rate was 40%. How much was the firm's taxable income, or earnings before taxes (EBT)? 2. Meric Mining Inc. recently reported $15,000 of sales, $7,500 of operating costs other than depreciation, and $1,200 of depreciation. The company had no amortization charges, it had outstanding S6.500 of bonds that carry a 6.25% interest rate, and its federal-plus-state income tax rate was 3370. How much was the firm's net income? Meric uses the same depreciation expense for tax and stockholder reporting purposes. 3. Bae Inc. has the following income statement. How much net operating profit after taxes (NOPAT) does the firm have? Sales Costs Depreciation EBIT Interest Expense EBT Taxes (35%) Net Income $2,000 $1,200 $100 $700 $200 $500 $175 $325 4. On 12/31/2015, Heaton Industries Inc. reported retained earnings of $675,000 on its balance sheet, and it reported that it had $172,500 of net income during the year. On its previous balance sheet, at 12/31/2014, the company had reported $555,000 of retained earnings. No shares were repurchased during 2015. How much in dividends did Heaton pay during 2015? 5. Ullrich Printing Inc. paid out $21,750 of common dividends during the year. It ended the year with $187,500 of retained earnings versus the prior year's retained earnings of $132,250. How much net income did the firm earn during the year? 6. During the past year, Jameson Plumbing paid $45,750 in interest along with $45,000 in dividends. The company issued $175,000 of stock and $150,000 of new debt. The company reduced the balance due on the old debt by $275,000. What is the amount of the cash flow to creditors? 7. The Burger Place paid $8,500 in dividends and $18.500 in interest over the past year. Sales totaled $225,750 with costs of $135,550. The depreciation expense was $25,000. The applicable tax rate is 35 percent. What is the amount of the operating cash flow (OCF)? 8. The financial statements of WaterEdge Marina reflect depreciation expenses of $22,800 and interest expenses of $34,800 for the year. The current assets increased by $44,400 and the net fixed assets increased by S36,750. What is the amount of the net capital spending (NCS) for the year? 9. Leslie Printing has net income of $26,310 for the year. At the beginning of the year, the firm had common stock of SS5,000, paid-in surplus of $11.200, and retained earnings of $48,420. At the end of the year, the firm had total equity of $142,430. The firm does not pay dividends. What is the amount of the net new equity raised during the year? In-Class Exercise - Accounting Review 10. Angie Animal House had current assets of $55,300 and current liabilities of $47,950 last year. This vear, the current assets are $80,400 and the current liabilities are $82,100. The depreciation expense for the nast vear is $10.600 and the interest paid is $7.800. What is the amount of the change in net working capital (NWC)? Chapter 3 - Analysis of Financial Statements 11. Bloom Car Rental's sales last year were $415,000, and its year-end total assets were $355,000. The average firm in the industry has a total assets turnover ratio (TATO) of 2.4. Bloom's new CFO believes the firm has excess assets that can be sold so as to bring the TATO down to the industry average without affecting sales. By how much must the assets be reduced to bring the TATO to the industry average, holding sales constant? 12 Whampoa Corp, has zero debt - it is financed only with common equity. Its total assets are $410,000. The new CFO wants to employ enough debt to bring the debt/assets ratio to 40%, using the proceeds from the borrowing to buy back common stock at its book value. How much must the firm borrow to achieve the target debt ratio? 13. Ormond Cake Shop's sales last year were $435.000, its operating costs were $362,500, and its interest charges were $12,500. What was the firm's times interest earned (TIE) ratio? 14. Mario LLC has total assets of $625.000. Its total debt outstanding is $185,000. The Board of Directors has directed the CFO to move towards a debt-to-assets ratio of 55%. How much debt must the company add or subtract to achieve the target debt ratio? 15. LeCompte Corp. has $312,900 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $620,000, and its net income was $24.655, Stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 15%. What profit margin would LeCompte need in order to achieve the 15% ROE, holding everything else constant? 16. Last year Urbana Corp. had $197,500 of assets, $307,500 of sales, $19,575 of net income, and a debt-to-total-assets ratio of 37.5%. The new CFO believes a new computer program will enable it to reduce costs and thus raise net income to $33,000. Assets, sales, and the debt ratio would not be affected. By how much would the cost reduction improve the ROE? 17. Emerson Inc.'s would like to undertake a policy of paying out 45% of its income. Its latest net income was $1,250,000, and it had 225,000 shares outstanding. What dividend per share should it declare? 18. Stewart Inc.'s latest EPS was $3.50, its book value per share was $22.75, it had 215,000 shares outstanding, and its debt-to-assets ratio was 46%. How much debt was outstanding? 19. Last year Vaughn Corp. had sales of $315,000 and a net income of $17,832, and its year-end assets were $210,000. The firm's total debt-to-total-assets ratio was 42.5%. Based on the DuPont equation, what was Vaughn's ROE? 20. Last year Mason Inc. had a total assets turnover of 1.33 and an equity multiplier of 1.75. Its sales were $195,000 and its net income was $10,549. The CFO believes that the company could have operated more efficiently, lowered its costs, and increased its net income by $5,250 without changing its sales, assets, or capital structure. Had it cut costs and increased its net income in this amount, by how much would the ROE have changed