Excel Solutions - Chapter 04

# Excel Solutions - Chapter 04 - Chapter 4 Problems 1-30...

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Chapter 4 Problems 1-30 Input boxes in tan Output boxes in yellow Given data in blue Calculations in red Answers in green

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Chapter 4 Question 1,2 Input area: Sales \$16,000 Costs 12,500 Assets 8,900 Debt 5,100 Equity 3,800 Sales increase 10% Output area: Pro forma income statement Pro forma balance sheet Sales \$17,600 Assets \$9,790 Debt \$5,610 Costs 13,750 Equity 4,180 Net income \$3,850 Total \$9,790 Total \$9,790 Plug variable = Dividends paid = Net income - Equity increase = \$3,470 Pro forma income statement Pro forma balance sheet Sales \$17,600 Assets \$9,790 Debt \$5,100 Costs 13,750 Equity 5,725 Net income \$3,850 Total \$9,790 Total \$10,825 Dividends \$1,925 External financing needed = \$(1,035) Add. To RE 1,925
Chapter 4 Question 3 Input area: Sales \$4,400 Costs 2,685 Assets 13,400 Debt 9,100 Equity 4,300 Next year's sales 5,192 Output area: Percent increase in sales = 18.00% Pro forma income statement Pro forma balance sheet Sales \$5,192 Assets \$15,812 Debt Costs 3,168 Equity Net income \$2,024 Total \$15,812 Total \$388

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\$9,100 6,324 \$15,424
Chapter 4 Question 4 Input area: Sales \$19,200 Costs \$15,550 Assets \$93,000 Debt \$20,400 Equity \$72,600 Next year's sales \$23,040 Dividend paid \$963.60 Tax rate 34% Output area: Percent increase in sales = 20% Pro forma income statement Pro forma balance sheet Sales \$23,040.00 Assets \$111,600.00 Debt \$20,400.00 Costs 18,660.00 Equity 74,334.48 Taxable income \$4,380.00 Total \$111,600.00 Total \$94,734.48 Taxes 1,489.20 Net income \$2,890.80 Dividends \$1,156.32 Add. To RE \$1,734.48 \$16,865.52

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Chapter 4 Question 5 Input area: Sales \$3,600 Costs 2,900 Current assets 4,500 Fixed assets 3,900 Current liabilities 920 Long-term debt 1,840 Equity 5,640 Sales increase 15% Payout ratio 50% Tax rate 34% Output area: Pro forma income statement Pro forma balance sheet Sales \$4,140.00 Current assets \$5,175.00 Current liabilities \$1,058.00 Costs 3,335.00 Fixed assets 4,485.00 Long-term debt 1,840.00 Taxable income \$805.00 Equity 5,905.65 Taxes 273.70 Total \$9,660.00 Total \$8,803.65 Net income \$531.30 Dividends \$265.65 Add. To RE \$265.65 \$856.35

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Chapter 4 Question 6,7 Input area: Sales \$10,400 Costs 6,820 Current assets 11,000 Fixed assets 27,000 Debt 22,000 Equity 16,000 Payout ratio 20% Tax rate 35% Output area: Income statement Sales \$10,400.00 Current assets Costs 6,820.00 Fixed assets Taxable income \$3,580.00 Taxes 1,253.00 Total Net income \$2,327.00 Dividends \$465.40 Add. To RE 1,861.60 Return on assets = Net income / Total assets = 0.06 Internal growth rate = (Return on assets X b) / (1 - Return on as Return on equity = Net income / Total equity = 0.15 Sustainable growth rate = (Return on equity X b) / (1 - Return o
Balance sheet \$11,000 Debt \$22,000 27,000 Equity 16,000 \$38,000 Total \$38,000 b = 0.8 ssets X b) = 5.15% n equity X b) = 13.17%

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Chapter 4 Question 8
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## This note was uploaded on 05/26/2010 for the course BUSINESS A 139 taught by Professor Cheng during the Spring '09 term at 東京大学.

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Excel Solutions - Chapter 04 - Chapter 4 Problems 1-30...

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