371 2006 mid answer

371 2006 mid answer - =11622-11557 Investment in associates...

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NPBT 459 Interest expense 300 EBIT 759 Income tax expense in IS -144 Tax benefit on interest -99 =300*0.33 -t(EBIT) -243 NOPAT 516 NPAT 315 +I(1-t) 201 =300*(1-0.33) NOPAT 516 NOPAT 516 1,103 - Increase in WC -1,172 # - Capex on FA -593 * FCF -146 - I(1-t) -201 + Increase in debt 3,093 FTE 2,746 Dividends in SME 2,746 2,746 # Increase in WC Increase (2005-2004) Current assets
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Unformatted text preview: =11622-11557 Investment in associates =10-7 Other investments =48-88 Deferred tax benefit =486-383-current liabilities except bank overdraft =6866-3093-(4814-0) 1172 * Capex (P.P.E) =9422-9932+1103 An alternative solution to SC2006 mid-term test Qestion2 Part a & b (assuming interest income is part of EBIT)...
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