FI3300_Spring08_quiz1 - EXERCISE 1 B EXERCISE 2 Gross Sales...

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B EXERCISE 2 Gross Sales $2,585,000 Beg Inventory $5,000 $4,500 Purchases $156,000 Net Sales $2,580,500 (End Inventory) $51,000 (COGS) $110,000 COGS $110,000 Gross Profit $2,470,500 (Management salaries) $250,000 (Research and development) $500,000 $785,000 (General and administrative expenses) $35,000 (Depreciation) $8,500 Operating Profit $1,677,000 (Interest Expense) $900,000 EBT $777,000 (Taxes) $310,800 Net Income $466,200 EXERCISE 3 Net Income 466,200 Book Value $2,500,000 # of shares 555,556 Par Value $4.50 EPS $0.84 EXERCISE 3 Price $11.50 EPS $0.84 P/E 13.70 EXERCISE 5 2006 2007 CHANGE IN/OUT Cash $30,000 $16,125 -$13,875 Accounts Receivable $37,500 $11,250 -$26,250 IN Inventory $77,750 $152,300 $74,550 OUT Net Fixed Assets $356,250 $358,750 $2,500 OUT Total Assets $501,500 $538,425 Notes Payable $7,500 $10,475 $2,975 IN Accounts Payable $61,250 $69,700 $8,450 IN Accruals $20,000 $1,000 -$19,000 OUT Long term Debt $187,500 $187,500 $0 - Common Stock $31,250 $31,250 $0 - Capital Surplus $112,500 $113,500 $1,000 IN Accumulated Retained Earnings $81,500 $125,000 $43,500
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This note was uploaded on 05/01/2008 for the course FI 3300 taught by Professor Co. during the Spring '08 term at Georgia State University, Atlanta.

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FI3300_Spring08_quiz1 - EXERCISE 1 B EXERCISE 2 Gross Sales...

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