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Finance Help
Use the following to answer questions 1-10: SHOW YOUR WORK!!!!!
MEGAFRAME COMPUTER COMPANY
Balance Sheet
As of December 31, 2003
ASSETS
Cash
$ 40,000
Accounts Receivable
60,000
Inventory
90,000
New Plant and Equipment
220,000
Total Assets
$410,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts Payable
$ 60,000
Accrued Expenses
40,000
Long-Term debt
130,000
Common Stock
60,000
Paid-In capita
20,000
Retained earnings
100,000
Total Liabilities and Stockholders' Equity
$410,000
MEGAFRAME COMPUTER COMPANY
Income Statement
For the Year Ended December 31, 2003
Sales (all on credit)
$720,000
Cost of Goods Sold
500,000
Gross Profit
220,000
Sales and Administrative Expense
20,000
Depreciation
40,000
Operating Profit
160,000
Interest Expense
16,000
Profit before Taxes
144,000
Taxes (30%)
43,200
Net Income
$100,800
******SHOW YOUR WORK*******
1. Using the DuPont method, return on assets (investment) for Megaframe Computer is approximately
2. The firm's average collection period is
BUS201
Take home exam 1 *****SHOW YOUR WORK*****
3. Times interest earned for Megaframe Computer is
4. Megaframe's quick ratio is
5. Megaframe's current ratio is
6. The firm's debt to asset ratio is
7. What is Megaframe Computer's total asset turnover?
8. Compute Megaframe's after tax profit margin.
9. The firm's return on equity is
10. The firm's receivable turnover is