Homework Answers
| 1 | Working capital = Total Current assets - Total Current liabilities |
| = $606,100 - $209,000 | |
| = $397,100 | |
| 2 | Current ratio = Current assets / Current liability |
| = $606,100 / 209,000 | |
| 2.9 | |
| 3 | Free cash flow (FCF) = Cash from operation - Capital expenditure |
| = $191,900 - $87,000 | |
| = $104,900 | |
| 4 | Debt to asset ratio = Total debt / Total assets |
| = $446,918 / $1,176,100 | |
| = 38% or 0.38 | |
| 5 | EPS = Net income / Weighted average number of shares |
| = $167,000 / 50,000 | |
| = $3.34 |
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Interest expense
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The following are financial statements of Vaughn
Manufacturing.
Vaughn Manufacturing
Income Statement
For the Year Ended December 31, 2017
Net sales
$2,230,600
Cost of goods sold
1,028,200
Selling and administrative expenses
924,400
Interest expense
90,300
Income tax expense
70,610
Net income
$ 117,090
Vaughn Manufacturing
Balance Sheet
December 31, 2017
Assets
Current assets
Cash
$ 72,200
Debt investments
85,610
Accounts receivable (net)
189,000
Inventory
162,400
Total current assets
509,210
Plant assets (net)
591,100
Total assets
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