Ch7_BAM - 7/8/2008 Chapter 7. Ch07-14 Build a Model Here...

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Unformatted text preview: 7/8/2008 Chapter 7. Ch07-14 Build a Model Here are the balance sheets as given in the problem: Cumberland Industries December 31 Balance Sheets (in thousands of dollars) 2009 2008 Assets Cash and cash equivalents $91,450 $74,625 Short-term investments $11,400 $15,100 Accounts Receivable $103,365 $85,527 Inventories $38,444 $34,982 Total current assets $244,659 $210,234 Net fixed assets $67,165 $42,436 Total assets $311,824 $252,670 Liabilities and equity Accounts payable $30,761 $23,109 Accruals $30,477 $22,656 Notes payable $16,717 $14,217 Total current liabilities $77,955 $59,982 Long-term debt $76,264 $63,914 Total liabilities $154,219 $123,896 Common stock $100,000 $90,000 Retained Earnings $57,605 $38,774 Total common equity $157,605 $128,774 Total liabilities and equity $311,824 $252,670 Key Input Data for Cumberland Industries Sales Revenue $455,150 EBITDA as a percent of sales 15% Depr. as a % of Net fixed assets 11% Tax rate 40% Interest Expense $8,575 Dividend Payout Ratio 40% 2009 2008 Sales $455,150 $364,120 Expenses excluding depreciation and amortization $386,878 $321,109 EBITDA $68,273 $43,011 Depreciation (Cumberland has no amortization charges)...
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This note was uploaded on 02/22/2012 for the course ACC 311 taught by Professor Crampton during the Winter '11 term at Jacksonville College.

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