FINANCIAL MANAGEMENT EXERCISES 1

Lời giải cho bài tập trong sách FUNDAMENTALS OF CORPORATE FINANCE chapter 2: bài 1,2,3,8,10. Sách dành cho bậc đại học, thuộc chuyên ngành kinh tế, tài chính, kế toán, kiểm toán, quản trị kinh doanh There are the solutions of 5 exercises: 1,2,3,8,10 in FUNDAMENTALS OF CORPORATE FINANCE book

FINANCIAL MANAGEMENT EXERCISES CHAPTER 2: 1,2,3,8,10 EXERCISE 1: BUILDING BALANCE SHEET PENGUIN PUCKS, INC Balance Sheet Current assets Net Fixed assets $5,100 $23,800 Total assets $28900 Current liabilities Long-term debt Owner’s quity Total liabilities and OE $4300 $7400 $17200 $28900 Net Working Capital = Current assets – Current Liabilities = $5,100 - 4300 = $800 EXERCISE 2: BUILDING INCOME STATEMENT PAPA ROACH EXAMINATORS, INC INCOME STATEMENT SALES Cost of goods sold Depreciation Earning before interests and taxes Interest paid Taxable income Taxes (35%) Net income $586,000 247000 43000 296000 32000 264000 92400 171600 EXERCISE 3: Suppose the firm in Problem paid out $73,000 in cash dividends What is the addition to retained earnings? Suppose the firm in Problem paid out $73000 in cash dividends, the addition to retained earnings is: 171,600 – 73,000 = 98,600 EXERCISE 8: Calculate OCF So Long, Inc., has sales of $27,500, costs of $13,280, depreciation expense of $2,300, and interest expense of $1,105 If the tax rate is 35 percent, what is the operating cash fl ow, or OCF? =Ebit + de -tax The Operating cash flow is $11920 + 2300 – 3785.25 = $10434.75 EXERCISE 10: Beginning net working capital (in 2008) = $2100 – 1380 = $720 Ending net working capital (in 2009) = $2250 – 1710 = $540 NWC = $540 – 720 = -$180 ...EXERCISE 10 : Beginning net working capital (in 2008) = $ 210 0 – 13 80 = $720 Ending net working capital (in 2009) = $2250 – 17 10 = $540 NWC = $540 – 720 = - $18 0