Banana box corporation has sales of

Complete the ten problems and label them to their assigned sections i.e. hw 1,2,3 ect

#1 Homework #1A

Banana Box Corporation has sales of $4,914,220; income tax of $408,959; the selling general and administrative expenses of $274,917; depreciation of $304,468; cost of goods sold of $2,875,420; and interest expense of $192,763. Calculate the amount of the firm’s income before tax?

Your Answer

#2 Homework #1C (Operating Cycle and Cash Conversion Cycle ratios)

a) Canadian Bacon Inc. financial statements are presented in the table below.

            Based on the information in the table, and using a 365-day year, calculate Average Credit Sales per Day.

 Round the answers to two decimal places

Balance Sheet December 31, 2014

Cash and marketable securities

$132,000

Accounts payable

$399,000

Accounts receivable

$311,000

Notes payable

$98,500

Inventories

$512,000

Accrued expenses

$89,300

Prepaid expenses

$11,300

Total current liabilities

$586,800

Total current assets

$966,300

Long-term debt

$799,400

Gross fixed assets

$2,104,000

Par value and paid-in-capital

$298,000

Less: accumulated depreciation

$398,000

Retained Earnings

$988,100

Net fixed assets

$1,706,000

Common Equity

1,286,100

Total assets

$2,672,300

Total liabilities and owner’s equity

$2,672,300

Income Statement, Year of 2014

Net sales (all credit)

$4,276,600.00

Less: Cost of goods sold

$3,292,982.00

Selling and administrative expenses

$349,000.00

Depreciation expense

$148,000.00

EBIT

$486,618.00

Interest expense

$49,600.00

Earnings before taxes

$437,018.00

Income taxes

$174,807.20

Net income

$262,210.80

Your Answer:

#3 Homework #2C (FV and PV of a Single Amount Non-Annually)

You placed $930 in a savings account today that earns an annual interest rate of 14.25 percent, compounded semiannually. How much will you have in this account at the end of 30 years? Assume that all interest received at the end of the period is reinvested the next period.

Round the answer to two decimal places.

Your Answer:

#4 Homework #2D (FV and PV of Ordinary Annuity Annually)

You have accumulated some money for your retirement. You are going to withdraw $62,739 every year at the end of the year for the next 28 years. How much money have you accumulated for your retirement? Your account pays you 15.28 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows.

Round the answer to two decimal places.

Your Answer:

#6Homework #3B (FV and PV of annuity non-annually)

You have decided to place $941 in equal deposits every month at the beginning of the month into a savings account earning 7.66 percent per year, compounded monthly for the next 15 years. The first deposit is made today. How much money will be in the account at the end of that time period?

Round the answer to two decimal places.

Your Answer:

#7Homework #3C (How much will each annual payment be (Using FV or PV))

You need to accumulate $69,834 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 16 years. The savings account pays 3.58 percent per year, compounded annually. How much will each annual payment be?

Round the answer to two decimal places.

Your Answer:

#8Homework #4D (YTM annually, semi-annually)

Blue Crab, Inc. plans to issue new bonds, but is uncertain how the market would set the yield to maturity. The bonds would be 29-year to maturity, carry a 8.02 percent annual coupon, and have a $1,000 par value. Blue Crab, Inc. has determined that these bonds would sell for $1,191 each. What is the yield to maturity for these bonds?

Round the answers to two decimal places in percentage form. (Write the percentage sign in the "units" box).

You should use Excel or financial calculator.

Your Answer: