FCF 9th edition Chapter 02

FCF 9th edition Chapter 02 - Chapter 2 Problems 1-26 Input...

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Chapter 2 Problems 1-26 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 the Office button then "Excel Options," "Add-Ins" and select "Go." Check "Analyis ToolPak" and "Solver Add-In," then click "OK."
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Chapter 2 Question 1 Input area: Current assets $5,100 Net fixed assets 23,800 Current liabilities $4,300 Long-term debt 7,400 Output area: Balance sheet Current assets $5,100 Current liabilities $4,300 Net fixed assets 23,800 Long-term debt 7,400 Owner's equity 17,200 Total liabilities Total assets $28,900 +total equity $28,900 Owner's equity $17,200 Net working capital $800
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Chapter 2 Questions 2-4 Input area: Sales $586,000 Costs 247,000 Depreciation expense 43,000 Interest expense 32,000 Tax rate 35% Cash dividends $73,000 Shares outstanding 85,000 Output area: Income Statement Sales $586,000 Costs 247,000 Depreciation expense 43,000 EBIT $296,000 Interest expense 32,000 EBT $264,000 Taxes (35%) 92,400 Net income $171,600 Addition to retained earnings $98,600 Earnings per share $2.02 Dividends per share $0.86
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Chapter 2 Question 5 Input area: Book value of net fixed assets $3,700,000 Book value of current liabilities 1,100,000 Net working capital $380,000 Market value of net fixed assets $4,900,000 Market value of current assets 1,600,000 Output area: Net working capital $380,000 Current liabilities 1,100,000 Book value of current assets $1,480,000 Book value of net fixed assets 3,700,000 Book value of total assets $5,180,000 Market value of current assets $1,600,000 Market value of net fixed assets 4,900,000 Market value of total assets $6,500,000
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Chapter 2 Questions 6,7 Input area: Taxable income $236,000 Taxable income 0 - 50,000 15% 50,001 - 75,000 25% 75,001 - 100,000 34% 100,001 - 335,000 39% 335,001 - 10,000,000 34% 10,000,001 - 15,000,000 35% 15,000,001 - 18,333,333 38% 18,333,334 + 35% Output area: Taxes: 15% $50,000 25% 25,000 34% 25,000 39% 136,000 34% 0 35% 0 38% 0 35% 0 $75,290 Average tax rate: $75,290 = 31.90% 236,000 The marginal tax rate is 39%
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Chapter 2 Question 8 Input area: Sales $27,500 Costs 13,280 Depreciation Expense 2,300 Interest Expense 1,105 Tax rate 35% Output area: Income Statement Sales $27,500 Costs 13,280 Depreciation expense 2,300 EBIT $11,920 Interest expense 1,105 EBT $10,815 Taxes (35%) 3,785 Net income $7,030 Operating cash flow $10,435
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Chapter 2 Question 9 Input area: Dec. 31, 2008 net fixed assets $3,400,000 Dec. 31, 2009 net fixed assets 4,200,000 Depreciation expense $385,000 Output area: Net capital spending $1,185,000
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Chapter 2 Question 10 Input area: Dec. 31, 2008 Current assets $2,100 Dec. 31, 2008 Current liabilities 1,380 Dec. 31, 2009 current assets $2,250 Dec. 31, 2009 current liabilities 1,710 Output area: Ending NWC $540 Beginning NWC $720 Additions to net working capital $(180)
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Chapter 2 Question 11 Input area: Dec. 31, 2008 Long-term debt $2,600,000 Dec. 31, 2009 Long-term debt $2,900,000 Interest expense $170,000 Output area: Cash flow to creditors $(130,000)
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Chapter 2 Question 12 Input area: Dec. 31, 2008 Common stock $740,000 Dec. 31, 2008 Additional paid-in surplus 5,200,000 Dec. 31, 2009 Common stock $815,000 Dec. 31, 2009 Additional paid-in surplus 5,500,000 Cash dividends $490,000 Output area: Cash flow to stockholders $115,000
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Chapter 2 Question 13
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FCF 9th edition Chapter 02 - Chapter 2 Problems 1-26 Input...

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