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# Chap 2 Word Problems

Course: FINANCE 101, Spring 2013

School: USC

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Chapter 2 Word Problems Name ___________________________ The following problems are assigned as homework. You will notice that the correct answer is highlighted; however, you must show the work to arrive at the answer. 54. Highland, Inc. has total assets of \$16,200, net working capital of \$3,900, owner's equity of \$8,500, and long-term debt of \$6,000. What is the value of the current assets? a. \$2,500 B. \$5,600...

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2 Chapter Word Problems Name ___________________________ The following problems are assigned as homework. You will notice that the correct answer is highlighted; however, you must show the work to arrive at the answer. 54. Highland, Inc. has total assets of \$16,200, net working capital of \$3,900, owner's equity of \$8,500, and long-term debt of \$6,000. What is the value of the current assets? a. \$2,500 B. \$5,600 c. \$6,300 d. \$9,900 e. \$10,200 60. Joe's Store has net working capital of \$1,800, total assets of \$12,600, and net fixed assets of \$9,700. What is the value of the current liabilities? A. \$1,100 b. \$2,900 c. \$4,700 d. \$7,900 e. \$10,800 66. The owners' equity in Jack's Taylor Shop was \$31,300 at the beginning of the year. During the year, the company had after tax income of \$4,900, of which \$1,600 was paid in dividends. Also during the year, the company repurchased \$2,000 of stock from one of the shareholders. What is the value of the owners' equity at year end? A. \$32,600 b. \$34,600 c. \$35,800 d. \$36,200 e. \$37,800 70. The financial statements of Classic Collectables reflect cash of \$15,800, accounts receivable of \$31,600, accounts payable of \$40,100, inventory of \$54,700, long-term debt of \$60,000, and net fixed assets of \$99,500. The firm estimates that if it wanted to cease operations today it could sell the inventory for \$39,000 and the fixed assets for \$77,000. is What the market value of the assets? a. \$63,300 b. \$101,500 C. \$163,400 d. \$181,700 e. \$201,600 81. Crabtree, Inc. has an operating cash flow of \$164,900, depreciation expense of \$93,100, and taxes paid of \$80,400. A partial listing of its balance sheet accounts is as follows: What is the amount of Crabtree's cash flow from assets? a. \$49,100 b. \$69,800 c. \$107,200 D. \$120,400 e. \$200,300 83. Solomon, Inc. has net sales of \$745,100 and costs of \$590,800. The depreciation expense is \$82,600 and the interest paid is \$15,500. What is the amount of the firm's operating cash flow if the tax rate is 35 percent? a. \$46,605 b. \$52,030 c. \$71,700 d. \$105,720 E. \$134,630 86. The financial statements of The Equipment Outlet reflect depreciation expenses of \$41,800 and interest expenses of \$35,200 for the year. The current assets increased by \$19,700 and the net fixed assets increased by \$34,900. What is the amount of the net capital spending for the year? a. \$34,900 b. \$54,600 c. \$61,500 D. \$76,700 e. \$96,400 87. Fallway, Inc. had current assets of \$121,800 and current liabilities of \$114,300 last year. This year, the current assets are \$118,600 and the current liabilities are \$100,400. The depreciation expense for the past year is \$13,500 and the interest paid is \$3,000. What is the amount of the change in net working capital? a. \$18,200 b. \$7,700 c. \$5,800 D. \$10,700 e. \$21,200

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