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The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars.
thousands of dollars. 2018 $5,700 2019 $5,800 Revenue 1,600 1,700 Cost of goods sold Depreciation 430 450 Inventories 350 405 Administrative expenses 500 550 Interest expense 120 120 Federal and state taxes* 920 940 Accounts payable 260 335 Accounts receivable. 450 490 5,800 6,490 Net fixed assets* Long-term debt 2,000 2,320 Notes payable 820 490 Dividends paid 350 350 Cash and marketable securities 760 370 * Taxes are paid in their entirety in the year that the tax obligation is incurred. + Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the change in net working capital during the year? (Enter your answer in thousands of dollars.) Net working capital increased by The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. 2018 2019 Revenue $3,900 $4,000 Cost of goods sold 1,200 1,300 Depreciation 470 490 Inventories 330 400 Administrative expenses 470 520 Interest expense 180 180 Federal and state taxes* 480 500 Accounts payable 350 410 Accounts receivable 370 445 Net fixed assets + 5,000 5,850 Long-term debt 2, 200 2,520 Notes payable 790 520 Dividends paid 490 490 Cash and marketable securities 820 410 * Taxes are paid in their entirety in the year that the tax obligation is incurred. t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Check my worl 1,200 1,300 Cost of goods sold Depreciation 470 490 Inventories 330 400 Administrative expenses 470 520 Interest expense 180 180 Federal and state taxes* 480 500 Accounts payable 350 410 Accounts receivable 370 445 5,000 5,850 Net fixed assets + Long-term debt 2,200 2,520 Notes payable 790 520 Dividends paid 490 490 Cash and marketable securities 820 410 * Taxes are paid in their entirety in the year that the tax obligation is incurred. t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the firm's average tax bracket for each year? (Enter your answers as a percent rounded to 1 decimal places.) 2018 2019 Average tax rate % %Step by Step Solution
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