Finn Company has the following operating data for the past year: Sales $614,000 Variable Cost $150,000...
Finn Company has the following operating data for the past year:
|
Sales |
$614,000 |
|
Variable Cost |
$150,000 |
|
Fixed Cost |
$100,000 |
|
Minimum required rate of return |
27% |
Balance Sheet Data for beginning and end of year:
|
Assets |
Beginning |
Ending |
| Cash |
$5,000 |
$5,000 |
|
Accounts Receivable |
$35,000 |
$40,000 |
| Inventory |
$90,000 |
$95,000 |
|
Net PP&E |
$100,000 |
$115,000 |
|
Land (held for future use) |
$40,000 |
$40,000 |
|
Investments in affiliates |
$5,000 |
$0 |
|
Total Assets |
$275,000 |
$295,000 |
|
Liabilities & SH Equity |
||
|
Short Term Debt |
$22,000 |
$27,000 |
|
Long Term Debt |
$116,000 |
$117,000 |
|
Stockholder's Equity |
$137,000 |
$151,000 |
|
Total Liabilities and SH Equity |
$275,000 |
$295,000 |
Q:) Finn Company's residual income for the past year is closest to:
A:) $ ___________?
Homework Answers
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Finn Company has the following operating data for the past
year:
Sales
$614,000
Variable Cost
$150,000...
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