Airbus
1. Income statement
Molteni Motors Inc. recently reported $3.25 million of net income. Its EBIT was $7.75 million, and its tax rate was 35%. What was its interest expense? Round your answer to the nearest dollar. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.
$
2. Corporate Tax Liability
To complete the assignments listed below, refer to the Table 2-1.
The Talley Corporation had a taxable income of $300,000 from operations after all operating costs but before (1) interest charges of $30,000, (2) dividends received of $18,000, (3) dividends paid of $18,000, and (4) income taxes.
What are the firm 's income tax liability and its after-tax income? Round your answers to two decimal places.
Income tax liability
$
After-tax income
$
What are the company 's marginal and average tax rates on taxable income? Round your answers to two decimal places.
Marginal tax rate %
Average tax rate %
3. Balance Sheet Analysis
Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data:
Total assets turnover: 2.1
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 24%
Total liabilities-to-assets ratio: 35%
Quick ratio: 1.05
Days sales outstanding (based on 365-day year): 36 days
Inventory turnover ratio: 3.0
Round your answers to the nearest whole dollar.
Partial Income
Statement
Information
Sales
$
Cost of goods sold
$
Balance Sheet
Cash
$
Accounts payable
$
Accounts receivable
$
Long-term debt
$ 50,000
Inventories
$
Common stock
$
Fixed assets
$
Retained earnings
$ 100,000
Total assets
$ 400,000
Total liabilities and equity
$
4. PV and Effective Annual Rate
Assume that you inherited some money. A friend of yours is working as an unpaid intern at a local brokerage firm, and her boss is selling securities that call for 4 payments of $50 (1 payment
Molteni Motors Inc. recently reported $3.25 million of net income. Its EBIT was $7.75 million, and its tax rate was 35%. What was its interest expense? Round your answer to the nearest dollar. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.
$
2. Corporate Tax Liability
To complete the assignments listed below, refer to the Table 2-1.
The Talley Corporation had a taxable income of $300,000 from operations after all operating costs but before (1) interest charges of $30,000, (2) dividends received of $18,000, (3) dividends paid of $18,000, and (4) income taxes.
What are the firm 's income tax liability and its after-tax income? Round your answers to two decimal places.
Income tax liability
$
After-tax income
$
What are the company 's marginal and average tax rates on taxable income? Round your answers to two decimal places.
Marginal tax rate %
Average tax rate %
3. Balance Sheet Analysis
Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data:
Total assets turnover: 2.1
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 24%
Total liabilities-to-assets ratio: 35%
Quick ratio: 1.05
Days sales outstanding (based on 365-day year): 36 days
Inventory turnover ratio: 3.0
Round your answers to the nearest whole dollar.
Partial Income
Statement
Information
Sales
$
Cost of goods sold
$
Balance Sheet
Cash
$
Accounts payable
$
Accounts receivable
$
Long-term debt
$ 50,000
Inventories
$
Common stock
$
Fixed assets
$
Retained earnings
$ 100,000
Total assets
$ 400,000
Total liabilities and equity
$
4. PV and Effective Annual Rate
Assume that you inherited some money. A friend of yours is working as an unpaid intern at a local brokerage firm, and her boss is selling securities that call for 4 payments of $50 (1 payment