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Question 1 (40 points) You are given the following financial information on the Balance Sheet of ACF Inc., as of Dec 31, 2019. Assuming all
Question 1 (40 points) You are given the following financial information on the Balance Sheet of ACF Inc., as of Dec 31, 2019. Assuming all the entries included in the ACF Inc.'s Balance Sheet are shown below. However, part of the report is destroyed, so the information in the row that shows Long-term Debt" is no longer visible: Accounts payable $170,000 Accounts receivable = $95,000 Cash = $320,000 Inventory = $820,000 Short-term Debt = $120,000 Net PP&E = $6,760,000 Total Stockholders' Equity = $4,775,000 Long-term Debt = ? Also, the firm's 2019 sales were $5 million, and its net income was $820,000, of which it paid out 40% in dividends. ACF Inc. had no stock sales or repurchases during 2019. (a) (10 points) Calculate the firm's net working capital on Dec. 31, 2019. (b) (10 points) Find the book value of the firm's debt-equity ratio. (c) (10 points) Determine ACF Inc.'s book value of equity for the fiscal year ended Dec 31, 2018 (d) (10 points) Given that ACF Inc.'s total debt for the fiscal year ended Dec 31, 2018 was $2,000,000. Calculate the Cash from Financing Activities on 2019 Statement of Cash Flows
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