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UNITED ARAB EMIRATES UNIVERSITY College of Business and Economics Department of Economics and Finance Principles of Financial Management - FINC 240...

i need ur help to solve #4,5,8 and 10
UNITED ARAB EMIRATES UNIVERSITY College of Business and Economics Department of Economics and Finance Page 1 of 4 Principles of Financial Management – FINC 240 Homework – Chapter 3 Spring 2012 Task 1 Using the information provided, calculate net income for 2009. Assume a tax rate of 40%. Inventory $5,000 Revenues 200,000 Depreciation expense 5,000 Cost of goods sold 100,000 Interest expense 10,000 Operating expenses 30,000 Task 2 Financial Data for Dooley Sportswear, December 31, 2010 Inventory 206,250 Long-term debt 300,000 Interest expense 5,000 Accumulated depreciation 442,500 Cash 180,000 Net sales (all credit) 1,500,000 Common stock 800,000 Accounts receivable 225,000 Operating expenses 525,000 Notes payable-current 187,500 Cost of goods sold 937,500 Plant and equipment 1,312,500
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UNITED ARAB EMIRATES UNIVERSITY College of Business and Economics Department of Economics and Finance Page 2 of 4 Accounts payable 168,750 Marketable securities 95,000 Prepaid insurance 80,000 Accruals 65,000 Retained earnings-current-year ? Federal income taxes 5,750 From the scrambled list of items presented in the table above, prepare an income statement and a balance sheet for Dooley Sportswear Company. Task 3 Your firm has the following balance sheet statement items: total current liabilities of $805,000; total assets of $2,655,000; fixed and other assets of $1,770,000; and long-term debt of $200,000. What is the amount of the firm's total current assets? Task 4 Grass Gadgets had sales of $30 million and net income of $2 million in 2008. Grass paid a dividend of $1.5 million. Assuming that their beginning balance for retained earnings was $3 million, calculate their ending balance for retained earnings. Task 5 Your firm has the following balance sheet statement items: total current liabilities of $805,000; total assets of $2,655,000; fixed and other assets of $1,770,000; and long-term debt of $200,000. What is the amount of the firm's net working capital? Interpret the result. Task 6 Your firm has the following balance sheet statement items: total current liabilities of $805,000; total assets of $2,655,000; fixed and other assets of $1,770,000; and long-term debt of $200,000. What is the amount of the firm's total current assets?
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