ASSETSNon-current assetsFixed assetsCurrent assetsInventories (all Trading inventory)Accounts receivableCash & cash equivalentsEQUITY AND LIABILITIESEquityOrdinary share capitalRetained incomeNon-current liabilitiesMortgage loan (12% p.a.)Current liabilitiesAccounts payableSARS (Company tax)Shareholders for dividends-■I2021 (R)■24 641 60024 641 6003 560 0001 200 000400 0001 960 00028 201 60024 495 60021 800 0002 695 6002 000 0002 000 0001 706 000850 00096 000760 00028 201 6002020 (R)Additional informationThe issue price of all the shares is R10 each. New shares were issued on the first day of the financialyear.Interim and final dividends for the year ended 31 December 2021 amounted to R1 413 000.Fixed assets were sold at carrying (book) value during the year for R1 440 000. Fixed assets were alsopurchased.The shares in Nascar Limited are currently selling for R12 each.All purchases and sales of inventories are on credit.The following ratios have been calculated:24 440 00024 440 0003 360 0002 500 000640 000220 00027 800 00019 883 00017 600 0002 283 0006 000 0006 000 0001 917 0001 290 00067 000560 00027 800 000Adc 7 / 9SalesCost of salesGross profitOperating expenses66,7%REQUIREDUse the information provided below to prepare the Cash Flow Statement of Nascar Limited for the yearended 31 December 2021.DepreciationOther operating expensesOperating profitInterest on mortgage loanProfit before tax▼INFORMATIONThe following Information was extracted from the records of Nascar Limited for the past two years:STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER:Company taxProfit after tax162021 (R)18 560 000(12 800 000)5 760 000(2 912 000)300 0002 612 0002 848 000(240 000)2 608 000(782 400)1 825 600DELL2020 (R)12 000 000(7 500 000)4 500 000(2 120 000)260 0001 860 0002 380 000(720 000)1 660 000(498 000)1 162 000Addre

Name: ASSETSNon-current assetsFixed assetsCurrent assetsInventories (all Tr
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Description: ASSETSNon-current assetsFixed assetsCurrent assetsInventories (all Trading inventory)Accounts receivableCash & cash equivalentsEQUITY AND LIABILITIESEquityOrdinary share capitalRetained incomeNon-current liabilitiesMortgage loan (12% p.a.)Current li

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ASSETS Non-current assets Fixed assets Current assets Inventories (all Trading inventory) Accounts receivable Cash & cash equivalents 2021 (R) 24 641 600 24 641 600 3 560 000 1 200 000 400 000 1 960 000 28 201 600 2020 (R) 24 440 000 24 440 000 3 360 000 2 500 000 640 000 220 000 27 800 000

ASSETS Non-current assets Fixed assets Current assets Inventories (all Trading inventory) Accounts receivable Cash & cash equivalents 2021 (R) 24 641 600 24 641 600 3 560 000 1 200 000 400 000 1 960 000 28 201 600 2020 (R) 24 440 000 24 440 000 3 360 000 2 500 000 640 000 220 000 27 800 000

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 15P: Use the following income statement of Elliott Game Theory Consulting to determine its net operating...

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Use the following income statement of Elliott Game Theory Consulting to determine its net operating profit after taxes (NOPAT). Use 25% as the tax rate. Elliott Game Theory Consulting Income Statement for Year Ending December 31
This year Last year 1050 Assets Cash 1530 Marketable securities Accounts receivable Inventories Total current assets 1810 1220 2050 1770 2900 2790 8290 6830 Gross fixed assets 29480 28090 Less: Accumulated depreciation 14680 13140 Net fixed assets 14800 14950 Total assets Liabilities and Stockholders' Equity 23090 21780 Accounts payable Notes payable Accruals 1560 1540 2760 2160 190 350 Total current liabilities 4510 4050 Long-term debt Common stock Retained earnings Total stockholders' equity 5220 4970 9950 9950 3410 2810 13360 12760 Total liabilities and stockholders' equity 23090 21780
Use the below information to answer the following question. Sales Cost of goods sold Depreciation Income Statement For the Year Taxable income Taxes Earnings before interest $4,500 and taxes Interest paid Net income Dividends $900 Balance Sheet End-of-Year Cash Accounts receivable Inventory Total current assets Net fixed assets Total assets Accounts payable Long-term debt Common stock ($1 par value) Retained earnings O O O O Total Liab. & Equity 33 percent 40 percent 50 percent $28,400 60 percent 21,200 2,700 67 percent 850 $3,650 1,400 $2,250 $550 2,450 4,700 $7,700 What was the retention ratio? 16,900 $24,600 $ 2,700 9,800 8,000 4,100 $24,600
6 T&T Company's selected financial statements items are given as following. Total net sales equals to 100.000 TL, COGS equals to 50.000 TL, operating expenses equals to 20.000 TL, interest expenses equals to 10.000 TL, tax expenses 5.000 TL, total depreciation & amortization expenses equals to 15.000 TL. Calculate the EBITDA/Interest Expense ratio of the company for the year 2020. a) O 4,50 01383 b) O 3,00 c) O 2,50 d) O 5,00
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The following information is available for Sunland Corporation for the year ended December 31, 2022: sales revenue $840,000, other revenues and gains $91,000, operating expenses $101,000, cost of goods sold $466,000, other expenses and losses $30,500, and preferred stock dividends $40,950. The company's tax rate was 20%, and it had 70,000 common shares outstanding during the entire year. (a) Your Answer Correct Answer Your answer is partially correct. Prepare a corporate income statement. (List other revenues before other expenses.)
Module pute Net Operating Profit after Tax Refer to the balance sheet information below for Home Depot. Feb. 3, 2019 Jan. 28, 2018 $35,891 $34,794 1,511 3,056 $37,402 $37,850 $14,177 $13,640 24,822 22,974 $38,999 $36,614 Operating assets Nonoperating assets Total assets $ millions Operating liabilities Nonoperating liabilities Total liabilities Net sales Operating expense before tax Net operating profit before tax (NOPBT) Other expense Income before tax Tax expense Net income Assume a statutory tax rate of 22%. a. Compute NOPAT for the year ended Feb. 3, 2019 using the formula: NOPAT = Net income + NNE Net income NNE NOPAT $ 9,453 $ $ $91,973 78,772 13,201 828 12,373 2,920 $9,453 7,361 * $ 16814 b. Compute NOPAT for the year ended Feb. 3, 2019 using the formula: NOPAT = NOPBT - Tax on operating profit NOPBT Tax on operating profit 7,361 * $ 10,296.78 x $ NOPAT -2936
The following are the financial statement JNC Ltd. for the year ended 31 March 2020: JNC Ltd. Income statement For the year ended 31 March 2020 $”M” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) 150.00 Tax (70.00) Profit after tax 80.00 JNC Ltd. Statement of financial position as at 31 March 2020 2019 $”M” $”M” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital (10 million ordinary shares of $ 10 per value) 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…
Use the following information for Ingersoll, Inc. Assume the tax rate is 21 percent. 2019 $18,798 2,494 6,741 1,183 Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2018 $17,049 2,386 5,740 1,350 Cash flow from assets Cash flow to creditors Cash flow to stockholders 1,115 1,330 8,681 9,277 11,498 13,512 1,684 1,651 29,090 35,254 72,792 77,640 6,275 6,670 20,441 21,872 2,029 2,324 For 2019, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
The following are the comparative financial statements for Outland Corporation for 2020 and 2019: OUTLAND CORPORATION Statement of Income For Periods Ending October 31 Sales Revenue Cost of Goods Sold Gross Profit.. 2020 167,500 100,000 67,500 2019 140,000 85,000 55,000 Expenses Depreciation Selling and Administrative Interest Expense. Total Expenses. 15,000 22,500 15,000 15,000 47,500 35,000 Net Income (before taxes). Income Taxes 25,000 10,000 15,000 22,500 7,500 15,000 Net Income OUTLAND CORPORATION Statement of Financial Position As at October 31 2020 2019 Assets Current Assets: 4,000 10,000 35,000 31,000 80,000 Cash. 2,500 7,500 30,000 25,000 65,000 Marketable Securities. Accounts Receivable. Inventory Total Current Assets Investments (at cost).. 30,000 32,500 Property, plant and equipment Property, Plant and Equipment.. Less: Accumulated Depreciation. 200,000 87,500 112,500 2,500 225,000 190,000 80,000 110,000 2,500 210,000 Goodwill Total Assets Liabilities and Shareholders'…
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Below is financial information ($ values are in millions) in a model. Net income during the year for this company would be: Revenues SG&A Expenses Interest Expense Select one: OA. $4.5 million OB. $3.6 million O C. $16.6 million OD. $0.9 million $67.30 $4.70 $8.10 Cost of Goods Sold Depreciation Tax Rate $43.20 $6.80 20%