Homework Answers
| 17.Cash flow from assets = OCF – Change in NWC – Net capital spending |
| where OCF= EBIT+Depreciation-Taxes |
| ie.OCF=1800+700-390= |
| 2110 |
| Change in NWC = |
| NWC 2018-NWC2017 |
| ie.(150+300+400-400)-(100+200+300-300)= |
| 150 |
| Net capital spending= |
| Increase in fixed assets+depreciation for the year |
| (1000-800)+700= |
| 900 |
| So, |
| Cash flow from assets =2110-150-900= |
| 1060 |
| 18. Cash flow to creditors=Interest paid-Net new Borrowing |
| ie.500-(700-500)= |
| 300 |
| 19. Cash flow to Owners=Dividends paid-Net new equity |
| Dividends paid=Beg. R/E+Current Yr.Net Income-Ending retained earnings |
| ie.200+910-250= |
| 860 |
| So, |
| Cash flow to Owners=Dividends paid-Net new equity |
| 860-(500-400)= |
| 760 |
| Cash flow from assets=Cash flow to creditors+Cash flow to Owners |
| ie. 1060=300+760 |
| 20. Future value of a 25-yr. $ 3000 annuity earning 2%p.a. is: |
| Using FV of ordinary yr.end annuity formula, |
| FVOA=(Pmt.*((1+r)^n-1)/r |
| where, FVOA is the value to be found out-- ?? |
| Pmt.=Annual payment--ie. $ 3000 |
| r= rate of interest, ie. 2% or 0.02 per period |
| n=no.of compounding periods= 25 |
| So, plugging the values in the formula, |
| we get the FV of the annuity as |
| FVOA=(3000*((1+0.02)^25-1)/0.02= |
| 96090.90 |
| (Answer) |
| 21.Future value at end of 3 years,of the given end-of year payments: |
| (100*1.02^2)+(300*1.02^1)+600= |
| 1010.04 |
| (Answer) |
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