tables posted

SAN CROA ET1341 Net Lo RO VE MA wo H. INIC 0.000 4740020 620 20.000 2,400 200.000 420 BONTO Panc 6663000 10.2012 3.D HE 52.544 Explaining the personeel Total assets 5 209.00 100.000 $ 50.000 150.00 200.000 $200.000 $ 80.000 120.000 $200.000 (4) = (3) X Tax Rate TABLE 12-4 Possible Capital Structures for Pierce Grain Company Plan A OX Debt Total debt Common equity 1200.000 Total liabilities and equity Plan B: 25% Debt at 8% Interest Rate Total debt Total assets Common equity Total liabilities and equity Plan : 40% Debt at 8% Interest rate Total debt Common equity Total assets $200,000 Total liabilities and equity 2.000 COTION onding 150 common fonding 1200mmon Torg TABLE 12-5 An Analysis of Financial Leverage at Different EBIT Levels: Pierce Grain Company (1) (2) (3) = (1) - (2) (5) = (3) - (4) (5) EBIT EBT Interest Taxes Net Income to Pian A: 0% Debt: $200,000 Common Equity: 2.000 shares of common stock Common Shareholders Earnings per Share $ 0 $ $ 0 0 $ 0 $ 0 20,000 20.000 0 $0 100% 4200 15 500 40.000 0 40,000 7.90 8.400 31.500 >100 60,000 0 60.000 15.80 12.500 47.400 80,000 23.70 0 80,000 16.800 53 200 Plan B: 25% Debt: $150,000 Common Equity 1,500 shares of common stock 31.50 $ 0 $4,000 $14.000) $1840) $3.150 $11.58) 20,000 4,000 16,000 3.360 100% 12.540 532 40.000 4,000 36,000 7.560 28.40 125% 1422 60.000 4,000 56.000 11.760 44240 22:21 80,000 4,000 76,000 15.950 50.040 30.02 Plan C: 40% Debt: $120,000 Common Equity: 1.200 shares of common stock 0 $6,400 $(6,400) $11.344) $15.056) 32531 6,400 13,600 2856 (20,000 10744 100% 537 40,000 6,400 33,600 >147% 7,056 25.544 13.27 60,000 6,400 53,600 11.256 12.34 21.17 80,000 6,400 73,600 15.456 58.14 29.07 The negative tax bill recognizes the creditoring from the contyforward provision of the forcode. Nicmpercentajat to dy he cochon corporate tax rate was changed too madum of 21 percent beginning in 2018 OOOOO SAN CROA ET1341 Net Lo RO VE MA wo H. INIC 0.000 4740020 620 20.000 2,400 200.000 420 BONTO Panc 6663000 10.2012 3.D HE 52.544 Explaining the personeel Total assets 5 209.00 100.000 $ 50.000 150.00 200.000 $200.000 $ 80.000 120.000 $200.000 (4) = (3) X Tax Rate TABLE 12-4 Possible Capital Structures for Pierce Grain Company Plan A OX Debt Total debt Common equity 1200.000 Total liabilities and equity Plan B: 25% Debt at 8% Interest Rate Total debt Total assets Common equity Total liabilities and equity Plan : 40% Debt at 8% Interest rate Total debt Common equity Total assets $200,000 Total liabilities and equity 2.000 COTION onding 150 common fonding 1200mmon Torg TABLE 12-5 An Analysis of Financial Leverage at Different EBIT Levels: Pierce Grain Company (1) (2) (3) = (1) - (2) (5) = (3) - (4) (5) EBIT EBT Interest Taxes Net Income to Pian A: 0% Debt: $200,000 Common Equity: 2.000 shares of common stock Common Shareholders Earnings per Share $ 0 $ $ 0 0 $ 0 $ 0 20,000 20.000 0 $0 100% 4200 15 500 40.000 0 40,000 7.90 8.400 31.500 >100 60,000 0 60.000 15.80 12.500 47.400 80,000 23.70 0 80,000 16.800 53 200 Plan B: 25% Debt: $150,000 Common Equity 1,500 shares of common stock 31.50 $ 0 $4,000 $14.000) $1840) $3.150 $11.58) 20,000 4,000 16,000 3.360 100% 12.540 532 40.000 4,000 36,000 7.560 28.40 125% 1422 60.000 4,000 56.000 11.760 44240 22:21 80,000 4,000 76,000 15.950 50.040 30.02 Plan C: 40% Debt: $120,000 Common Equity: 1.200 shares of common stock 0 $6,400 $(6,400) $11.344) $15.056) 32531 6,400 13,600 2856 (20,000 10744 100% 537 40,000 6,400 33,600 >147% 7,056 25.544 13.27 60,000 6,400 53,600 11.256 12.34 21.17 80,000 6,400 73,600 15.456 58.14 29.07 The negative tax bill recognizes the creditoring from the contyforward provision of the forcode. Nicmpercentajat to dy he cochon corporate tax rate was changed too madum of 21 percent beginning in 2018 OOOOO