Case_Solutions

Case_Solutions - Corporate Finan Ross, Westerfield, and Ja...

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Unformatted text preview: Corporate Finan Ross, Westerfield, and Ja 8th edition Case Solutions Input boxes in tan Output boxes in yellow Given data in blue Calculations in red Answers in green NOTE: Some functions used in these spreadsheets may require that the "Analysis ToolPak" or "Solver Add-in" be installed in Excel. To install these, click on "Tools|Add-Ins" and select "Analysis ToolPak and "Solver Add-In." nce affe k" Chapter 2 Cash Flows at Warf Computer, Inc. Input area: Balance Sheet (in $ th 2007 2006 Current assets Cash and equivalents $232 $201 Accounts receivable 367 342 Inventories 329 340 Other 47 40 Total current assets $975 $923 Fixed assets Property, plant, and equipment $2,105 $1,630 Less accumulated depreciation (687) (560) Net property, plant, and equipment $1,418 $1,070 Intangible assets and others 406 363 Total fixed assets $1,824 $1,433 Total assets $2,799 $2,356 Acquisition of fixed assets $629 Sale of fixed assets $111 New debt issued $94 Debt retired $54 New stock issued $47 Stock repurchased $32 Income Statement (in $ thousands) Sales $3,875 Cost of goods sold 2,286 Selling, general, and administrative 434 Depreciation 127 Operating income $1,028 Other income 38 EBIT $1,066 Interest expense (76) Pretax income $990 Taxes (347) Current $286 Deferred $61 Net income $643 Retained earnings $325 Dividends $318 Output area: Operating cash flow Earnings before interest and taxes $1,066 Depreciation 127 -Current taxes 286 Operating cash flow $907 Cash flow from assets Acquisition of fixed assets $629 Sale of fixed assets $(111) Capital spending $518 Alternatively, Ending fixed assets $1,824 -Beginning fixed assets 1,433 Depreciation 127 Capital spending $518 Net working capital cash flow Ending NWC $518 Beginning NWC 468 NWC cash flow $50 Cash flow to creditors Interest $76 Retirement of debt 54 Debt service $130 Proceeds from sale of long-term debt (94) Total $36 Alternatively Beginning long-term debt $589 Ending long-term debt (629) Interest 76 Total $36 Cash flow to stockholders Dividends $318 Repurchase of stock 32 Cash to stockholders $350 Proceeds from new stock issue (47) Total $303 Alternatively Beginning total equity $1,230 Ending total equity $(1,570) Dividends $318 Retained earnings $325 $303 Statement of cash flows Operations Net income $643 Depreciation 127 Deferred taxes 61 Changes in assets and liabilities Accounts receivable (25) Inventories 11 Accounts payable 66 Accrued expenses (79) Other (7) Total cash flow from operations $797 Investing activties Acquisition of fixed assets $(629) Sale of fixed assets 111 Total cash flow from investing activities $(518) Financing activties Retirement of debt $(54) Proceeds of long-term debt 94 Notes payable 15 Dividends (318) Repurchase of stock (32) Proceeds from new stock issues 47 Total cash flow from financing activities $(248) Change in cash (on balance sheet) $31 housands) 2007 2006 Current liabilities Accounts payable $263 $197 Notes payable 68 53 Accrued expenses 126 205 Total current liabilities...
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Case_Solutions - Corporate Finan Ross, Westerfield, and Ja...

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