MC Qu. 61At the beginning of the year, a firm has current assets of... At the be

Question

MC Qu. 61At the beginning of the year, a firm has current assets of...
At the beginning of the year, a firm has current assets of $396 and current liabilities of $227. At the end of the year, the current assets were $432 and the current liabilities were $267. What is the change in net working capital?

$66

$-36

$-4

$76

$36
MC Qu. 59Crandall Oil has total sales of...
Crandall Oil has total sales of $1,140 and costs of $685. Depreciation is $138 and the tax rate is 33 percent. The firm does not have any interest expense. What is the operating cash flow?

$350

$340

$375

$325

$355
P2-2 Building an Income Statement [LO1]
Papa Roach Exterminators, Inc., has sales of $541,000, costs of $290,000, depreciation expense of $40,000, interest expense of $12,000, and a tax rate of 33 percent. (Do not include the dollar sign ($).)

The net income for this firm is $ .

P2-4 Per-Share Earnings and Dividends [LO1]
Papa Roach Exterminators, Inc., has sales of $521,000, costs of $270,000, depreciation expense of $35,000, interest expense of $19,000, and a tax rate of 37 percent. The firm paid out $53,000 in cash dividends, and has 24,000 shares of common stock outstanding. (Do not include the dollar signs ($). Round your answers to 2 decimal places. (e.g., 32.16))

The earnings per share, or EPS are $ ____ and the dividends per share are $ .____

P2-6 Calculating Taxes [LO3]
The Renata Co. had $180,000 in 2009 taxable income. Using the rates from the table below, the company's 2009 income taxes are $ . (Do not include the dollar sign ($).)

Taxable Income Tax Rate
$0 – 50,000 15%
50,001 – 75,000 25%
75,001 – 100,000 34%
100,001 – 335,000 39%
335,001 – 10,000,000 34%
10,000,001 – 15,000,000 35%
15,000,001 – 18,333,333 38%
18,333,334 + 35%
________________________________________

P2-8 Calculating OCF [LO4]
So Long, Inc., has sales of $11,700, costs of $4,500, depreciation expense of $900, and interest expense of $500.

If the tax rate is 37 percent, the operating cash flow, or OCF, is $ ____. (Round your answer to the nearest whole dollar amount. Do not include the dollar sign ($).)

Explanation / Answer

a)-4 b)350 P2-2)133330 P2-4) EPS=2.96 DPS=2.21 P2-6)70200 P2-8) 5054

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