Selected data from the 2015 financial statements of KRJ Manufacturing are presented below. Calculate the financial...
Selected data from the 2015 financial statements of KRJ Manufacturing are presented below. Calculate the financial leverage multiplier for the year, rounded to two decimal places. e.g. 20.00.
Sales $180,267
Gross profits $97,391
Operating profits (EBIT) $25,762
Earnings before taxes (EBT) $28,724
Net profits $19,689
Tax expense 9,013
Depreciation expense $10,295
Total assets, Dec. 31, 2014 $112,485
Total assets, Dec. 31, 2015 $116,751
Total equity, Dec. 31, 2014 $56,593
Total equity, Dec. 31, 2015 $40,735
Cash flow from operations $26,120
Homework Answers
Financial Leverage Multiplier
The Financial Leverage Multiplier is calculated by using the following formula
Financial Leverage Multiplier = Average Total Assets / Average Equity
Average Total Assets = $114,618 [($112,485 + 116,751)/2]
Average Equity = $48,662.50 [($56,593 + 40,732)/2]
Therefore, The Financial Leverage Multiplier = Average Total Assets / Average Equity
= $114,618 / $48,662.50
= 2.36 Times
“Hence, The Financial Leverage Multiplier would be 2.36 Times"
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Selected data from the 2015 financial statements of KRJ
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