08-EXAM#1–KEY

08-EXAM#1–KEY - Econ 3A - Financial Accounting...

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Econ 3A – W’08 – Exam # 1 ANSWER KEY – p1 Econ 3A - Financial Accounting - W'08 Exam # 1 - 100 points (Show all your work. Use good form. Answer all questions in you bluebook.) ANSWER KEY PROBLEM 1 (40 points) (All except per share and percentage amounts are in millions.) a. For the year 2006, duPont reported sales of $27,421, net income of $3,148, and earnings per share of $3.41. Average common shares outstanding for the year were 920. What was the dollar amount, if any, that duPont paid in preferred dividends in 2006? Net income – Preferred dividends EPS = _____________________________ Average common shares outstanding 3,148 – X 3.41 = _______________ 920 X = 11 (nearest million) Note: Sales are irrelevant b. For the year 2006, Colgate-Palmolive reported cash flow from operations of $1,821, capital expenditures of $476, princip__* payments on debt of $1,332, and dividends paid of $677. Compute Colgate’s free cash flow for 2006. *Also, is it principal or principle?
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This note was uploaded on 03/05/2009 for the course ECON 3A taught by Professor Loster during the Fall '07 term at UCSB.

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08-EXAM#1–KEY - Econ 3A - Financial Accounting...

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