For 2017 (Figures in
Millions of Dollars)
Free cash flows = [ EBIT ( 1- Tax Rate ) ] + Non cash expenses -
Change in working capital - Capital expenditure
where, EBIT = $45
Tax rate = 40%
Non cash expenses = Depreciation = $9
Change in working capital = ( Current assets for 2017 - Current
liabilities for 2017 ) - (Current assets for 2016 - Current
liabilities for 2016 ) = ( $112 - $74 ) - ( $108 - $62 ) =
-$8
Capital expenditure = Net plant and equipment in 2017 - Net plant
and equipment in 2016 = $100 - $75 = $25
Free cash flows = [ $45 ( 1- 40% ) ] + $9 - (-$8) - $25
= $19 million.
10. Determine Free Cash Flows from the given income statements and balance sheets. Smith Brothers Corporation...
FINA 3006 Preparing a Statement of Cash Flows Given the balance sheets and the income statement of The Jamin Corporation: a) Prepare the firm's statement of cash flows for the year ended December 31, 2017. Income Statement--The Jamin Corporation for the year Ending December 31, 2017 830,200 Sales 39,750 Cost of Goods Sold Gross profit Operating expenses Selling expenses General and administrative expenses Depreclation Total operating expenses Operating income 290,450 90,750 71,800 28,200 190,150 99,700 20,000 Interest expense Earnings before...
164.0 Free Cash Flows Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 Sales $9,350.0 $8,500.0 Operating costs excluding depreciation 7,013.0 7,225.0 Depreciation and amortization 196.0 179.0 Earnings before interest and taxes $2,141.0 $1,096.0 Less Interest 201.0 183.0 Pre-tax income $1,940.0 $913.0 Taxes (40%) 776.0 365.2 Net income available to common stockholders $1,164.0 $547.8 Common dividends $1,048.0 $438.0 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2016 2015 Assets Cash $113.0 $94.0...
*Exercise 13-5 Suppose the comparative balance sheets of Splish Brothers Inc. are presented here. SPLISH BROTHERS INC. Condensed Balance Sheet May 31 (s in millions) 2017 2016 Assets Current Assets $9,710 $8,720 Property, plant, and equipment (net) 1,940 1,870 Other assets 1,500 1,690 Total assets $13,150 $12,280 Liabilities and Stockholders' Equity Current Liabilities $3,220 $3,330 Long-term liabilities 1,330 1,380 Stockholders' equity 8,600 7,570 Total liabilities and stockholders' equity $13,150 $12,280 (a) Prepare a horizontal analysis of the balance sheet data...
gives abbreviated balance sheets and income statements for
Walmart. Calculate the following using balance-sheet figures from
the start of the year.
a) Return on assets. The tax rate is 34.5%
b) ROE
c) Assets turnover
d) Inventory turnover and average days in Inventory
e) Total Debt to Equity ratio.
f) Current ratio.
g) Quick ratio
Table 28.8 Balance sheets and income statement for Walmart, fiscal 2017 and 2016 (figures in $ millions) Fiscal 2017 Fiscal 2016 Balance Sheet Assets Current...
Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) August 28, 2016 August 30, 2015 August 31, 2014 Revenue Net Sales $116,073 $113,666 $110,212 Membership fees 2,646 2,533 2,428 Total revenue 118,719 116,199 112,640 Operating expenses Merchandise costs 102,901 101,065 98,458 Selling, general and administrative 12,068 11,445 10,899 Preopening expenses 78 65 63 Operating Income 3,672 3,624 3,220 Other income (expense) Interest expense (133) (124) (113)...
Analysis and Interpretation of Liquidity and Solvency Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Costco Wholesale Corporation Consolidated Statements of Earnings Consolidated Balance Sheets For Fiscal Years Ended (5 millions) September 2, 2018 (5 millions, except par value and share data) September 2, 2018 September 3, 2017 Total revenue $141,576 Current assets Operating expenses Cash and cash equivalents $6,055 $4,546 Merchandise costs 123,152 Short-term investments 1,204 1,233 Selling general and administrative 13,876 Receivables, net...
Problem 2-12 Free Cash Flows Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 Sales $7,800.0 $6,500.0 Operating costs excluding depreciation 6,630.0 5,525.0 Depreciation and amortization 226.0 189.0 Earnings before interest and taxes $944.0 $786.0 Less Interest 168.0 140.0 Pre-tax income $776.0 $646.0 Taxes (40%) 310.4 258.4 Net income available to common stockholders $465.6 $387.6 Common dividends $419.0 $310.0 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2016 2015 Assets Cash $118.0...
PROBLEM SET 2 Bentley Corporation, Inc. Balance Sheets ($ 000s) Bentley Corporation, Inc. Income Statements ($ 000s) 2016 2017 2018 2016 2017 2018 Assets Current assets Cash Accounts receivable Inventory 36,349 193,387 219,568 449,304 41,086 187,147 237,785 466,018 37,416 184,659 244,002 466,077 Fixed assets Net plant and equipment Sales Cost of goods sold Other expenses Depreciation EBIT Interest Taxable income Taxes (21%) Net income Dividends Additions to retained earnings 2,378,654 1,427,192 475,731 190,292 285,439 40,913 244,526 46,878 197,648 89,200 108,448...
The chief accountant for Grandview Corporation provides you with the company’s 2018 statement of cash flows and income statement. The accountant has asked for your help with some missing figures in the company’s comparative balance sheets. These financial statements are shown next ($ in millions). GRANDVIEW CORPORATION Statement of Cash Flows For the Year Ended December 31, 2018 Cash Flows from Operating Activities: Collections from customers $ 126 Payment to suppliers (43 ) Payment of general & administrative expenses (33...
Rosnan Industries' 2017 and 2016 balance sheets and income statements are shown below. All of the balance of Cash and Equivalents is an operating asset. Balance Sheets: 2017 2016 Cash and equivalents $100 $85 Accounts receivable 275 200 Inventories 375 250 Total current assets $750 $635 Net plant and equipment 2,000 1,490 Total assets $2,750 $2,125 Accounts payable $150 $85 Accruals 75 50 Notes payable 150 75 Total current liabilities $375 $210 Long-term debt 450 290 Common stock 1,225 1,225 ...