Ch02 P14 Build a Model

Ch02 P14 Build a Model - Chapter 2. 2-14 Key Input Data for...

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Unformatted text preview: Chapter 2. 2-14 Key Input Data for Cumberland Industries 2010 (Thousands of dollars) Sales Revenue $455,000 Expenses (excluding depreciation) as a percent of sales 85.0% Net fixed assest $67,000 Depr. as a % of net fixed assets 10.0% Tax rate 40.0% Interest expense $8,550 Dividend Payout Ratio 25% Cumberland Industries: Income Statement (Thousands of dollars) 2010 Sales $455,000 Operating costs excluding depreciation $386,750 EBITDA $68,250 Depreciation (Cumberland has no amortization charges) $6,700 EBIT $61,550 Interest expense $8,550 EBT $53,000 Taxes (40%) $21,200 Net income $31,800 Common dividends $7,950 Addition to retained earnings $23,850 Dollar value of common stock issued (in thousands of dollars) $10,000 Cumberland Industries December 31 Balance Sheets (in thousands of dollars) 2010 2009 Assets Cash and cash equivalents $91,450 $74,625 Short-term investments 11,400 15,100 Accounts Receivable 108,470 85,527 Inventories 38,450 34,982 Total current assets $249,770 $210,234 a. Cumberland Industries' most recent sales were $455,000,000; operating costs (excluding depreciation)a....
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Ch02 P14 Build a Model - Chapter 2. 2-14 Key Input Data for...

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