Copy of FCF 9th edition Chapter 04

# Copy of FCF 9th edition Chapter 04 - Chapter 4 Problems...

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Chapter 4 Problems 1-33 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 4 Question 1,2 Input area: Income statement Balance sheet Sales \$23,000 Assets \$15,800 Debt \$5,200 Costs 16,700 Equity 10,600 Net income \$6,300 Total \$15,800 Total \$15,800 Sales increase 15% Payout rate 50% Output area: Pro forma income statement Pro forma balance sheet Sales \$26,450 Assets \$18,170 Debt \$5,980 Costs 19,205 Equity 12,190 Net income \$7,245 Total \$18,170 Total \$18,170 Dividends \$5,655 Pro forma income statement Pro forma balance sheet Sales \$26,450.00 Assets \$18,170 Debt \$5,200.00 Costs 19,205.00 Equity 14,222.50 Net income \$7,245.00 Total \$18,170 Total \$19,422.50 Dividends \$3,622.50 External financing needed \$(1,252.50) Add. To RE \$3,622.50
Chapter 4 Question 3 Input area: Income statement Balance sheet Sales \$6,300 Assets \$18,300 Debt \$12,400 Costs 3,890 Equity 5,900 Net income \$2,410 Total \$18,300 Total \$18,300 Next year's sales \$7,434 Output area: Percent increase in sales 18.00% Pro forma income statement Pro forma balance sheet Sales \$7,434 Assets \$21,594 Debt \$12,400 Costs 4,590 Equity 8,744 Net income \$2,844 Total \$21,594 Total \$21,144 External financing \$450

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Chapter 4 Question 4 Input area: Sales \$19,500 Assets \$98,000 Debt \$52,500 Costs 15,000 Equity 45,500 Taxable income \$4,500 Total \$98,000 Total \$98,000 Taxes 1,800 Net income \$2,700 Next year's sales \$21,840 Dividend paid \$1,400 Tax rate 40% Output area: Percent increase in sales 12% Pro forma income statement Pro forma balance sheet Sales \$21,840.00 Assets \$109,760.00 Debt \$52,500.00 Costs 16,800.00 Equity 46,956.00 Taxable income \$5,040.00 Total \$109,760.00 Total \$99,456.00 Taxes (40%) 2,016.00 Net income \$3,024.00 Dividends \$1,568.00 Add. To RE \$1,456.00 External financing \$10,304.00
Chapter 4 Question 5 Input area: Sales \$4,200 Current assets \$3,600 Current liabilities \$2,100 Costs 3,300 Fixed assets 7,900 Long-term debt 3,650 Taxable income \$900 Equity 5,750 Taxes 306 Total assets \$11,500 Total \$11,500 Net income \$594 Sales increase 15% Payout ratio 40% Tax rate 34% Output area: Pro forma income statement Pro forma balance sheet Sales \$4,830.00 Current assets \$4,140.00 Current liabilities \$2,415.00 Costs 3,795.00 Fixed assets 9,085.00 Long-term debt 3,650.00 Taxable income \$1,035.00 Equity 6,159.86 Taxes (34%) 351.90 Total \$13,225.00 Total \$12,224.86 Net income \$683.10 Dividends \$273.24 Add. To RE \$409.86 External financing \$1,000.14

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Chapter 4 Question 6,7 Input area: Sales \$13,250 Current assets \$10,400 Debt \$17,500 Costs 9,480 Fixed assets 28,750 Equity 21,650 Taxable income \$3,770 Total \$39,150 Total \$39,150 Taxes 1,508 Net income \$2,262 Payout ratio 30% Tax rate 40% Output area: Income statement Balance sheet Sales \$13,250.00 Current assets \$10,400 Debt \$17,500 Costs 9,480.00 Fixed assets 28,750 Equity 21,650 Taxable income \$3,770.00 Taxes 1,508.00 Total \$39,150 Total \$39,150 Net income \$2,262.00 Dividends \$678.60 Add. To RE 1,583.40 Return on assets 5.78% Retention ratio 70% Internal growth rate 4.21% Return on equity 10.45% Sustainable growth rate 7.89%
Chapter 4 Question 8 Input area: Sales \$42,000 Current assets 21,000 Debt 51,000

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