+1 862 207 3288 Kroeger, Inc
Kroeger, Inc., has current assets of $1,970, net fixed assets of $9,650, current liabilities of $1,520, and long-term debt of $4,370. (Enter your answer as directed, but do not round intermediate calculations.)
Requirement 1:
What is the value of the shareholders’ equity account for this firm?
Shareholder’s equity $
Requirement 2:
How much is net working capital?
Net working capital $
2
Draiman, Inc., has sales of $795,000, costs of $345,000, depreciation expense of $76,000, interest expense of $41,000, and a tax rate of 35 percent. (Enter your answer as directed, but do not round intermediate calculations.)
Required:
What is the net income for this firm?
Net income $
Draiman, Inc., has sales of $795,000, costs of $345,000, depreciation expense of $76,000, interest expense of $41,000, and a tax rate of 35 percent. The firm paid out $56,000 in cash dividends. (Enter your answer as directed, but do not round intermediate calculations.)
Required:
What is the addition to retained earnings?
Addition to retained earnings $
3
Draiman, Inc., has sales of $795,000, costs of $345,000, depreciation expense of $76,000, interest expense of $41,000, and a tax rate of 35 percent. The firm paid out $56,000 in cash dividends and has 60,000 shares of common stock outstanding. (Enter your answer as directed, but do not round intermediate calculations.)
Requirement 1:
What is the earnings per share figure? (Round your answer to 2 decimal places (e.g., 32.16).)
Earnings per share $
Requirement 2:
What is the dividends per share figure? (Round your answer to 2 decimal places (e.g., 32.16).)
Dividends per share $
4
Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $8 million. The machinery can be sold to the Romulans today for $6.7 million. Klingon’s current balance sheet shows net fixed assets of $3.1 million, current liabilities of $790,000, and net working capital of $145,000. If all the current assets were liquidated today, the company would receive $865,000 cash. (Enter your answer as directed, but do not round intermediate calculations.)
Requirement 1:
What is the book value of Klingon’s total assets today? (Enter your answer in dollars, not millions of dollars, i.e. 1,234,567.)
Total asset book value $
Requirement 2:
What is the market value of Klingon’s total assets? (Enter your answer in dollars, not millions of dollars, i.e. 1,234,567.)
5
The SGS Co. had $215,000 in taxable income. Use the rates from Table 2.3. (Enter your answer as directed, but do not round intermediate calculations.)
Required:
Calculate the company’s income taxes.
Income taxes $
6
The SGS Co. had $215,000 in taxable income. Use the rates from Table 2.3. (Enter your answer as directed, but do not round intermediate calculations.)
Requirement 1:
What is the average tax rate? (Round your answer to 2 decimal places (e.g., 32.16).)
Average tax rate %
Requirement 2:
What is the marginal tax rate?
Marginal tax rate % 07_08_2011
77777
The December 31, 2013, balance sheet of Maria’s Tennis Shop, Inc., showed current assets of $1,045 and current liabilities of $960. The December 31, 2014, balance sheet showed current assets of $1,310 and current liabilities of $1,090. (Enter your answer as directed, but do not round intermediate calculations.)
Required:
What was the company’s change in net working capital during 2014?
Change in net working capital $
You are given the following information for Sookie’s Cookies Co.: sales = $55,000; costs = $43,200; addition to retained earnings = $2,600; dividends paid = $1,150; interest expense = $1,670; tax rate = 40 percent.(Enter your answer as directed, but do not round intermediate calculations.)
Required:
Calculate the depreciation expense. (Round your answer to the nearest whole number, e.g., 32.)
Depreciation expense $
Prepare a balance sheet given the following information for Alaskan Orange Corp. as of December 31, 2014: cash = $197,000; patents and copyrights = $863,000; accounts payable = $288,000; accounts receivable = $265,000; tangible net fixed assets = $5,300,000; inventory = $563,000; notes payable = $194,000; accumulated retained earnings = $4,586,000; long-term debt = $1,450,000. (Enter your answer as directed, but do not round intermediate calculations.)
Balance Sheet
$
$
________________________________________ ________________________________________ ________________________________________ ________________________________________
Current liabilities $
Current assets $
________________________________________ ________________________________________ ________________________________________ ________________________________________
Total liabilities $
$
________________________________________ ________________________________________ ________________________________________ ________________________________________
Total assets $
Total liabilities & owners’ equity $
________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________
(Refer to Table 2.3.) Corporation Growth has $83,000 in taxable income, and Corporation Income has $8,300,000 in taxable income. (Enter your answer as directed, but do not round intermediate calculations.)
Required:
(a) What is the tax bill for each firm?
Tax bill
Corporation Growth $ Corporation Income $ ________________________________________
(b) Suppose both firms have identified a new project that will increase taxable income by $10,000. How much in additional taxes will each firm pay?
Additional taxes
Corporation Growth $ Corporation Income $ ________________________________________
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