Birmingham Steels has the following (incomplete) balance sheet and income statement. (a) Determine the shareholders equity in
Question:
(a) Determine the shareholders equity in 2011 and 2012.
(b) Determine the net working capital in 2011 and 2012.
(c) Assuming that Birmingham Steels has a 35% tax rate, determine the income taxes paid in year 2012.
(d) What is cash generated from operation in year 2012?
Transcribed Image Text:
Balance Sheet 2012 Assets 2011 Current assets 200 100 Fixed assets 700 600 Liabilities and Shareholders’ Equity Current liabilities 60 90 450 Long-term debt 550 Income Statement, 2012 Revenue 2,350 Cost of revenue 1130 Depreciation 420 210 Interest expense |All figures in million dollars
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
a Shareholders equity in 2011 700 510 190M Shareholders equity ...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Let's look at Dick's Sporting Goods (Dick's) some more. Think about Dick's. Think about accountants reporting what Dick's has, where it got its money, and what it has been doing to create value. Is...
-
Lets look at Dicks Sporting Goods (Dicks) some more. Think about Dicks. Think about accountants reporting what Dicks has, where it got its money, and what it has been doing to create value. Is Dicks...
-
South Sea Baubles has the following (incomplete) balance sheet and income statement. a. What is shareholders' equity in 2015? b. What is shareholders' equity in 2016? c. What is net working capital...
-
United Research Associates (URA) had received a contract to produce two units of a new cruise missile guidance control. The first unit took 4,000 hours to complete and cost $ 30,000 in materials and...
-
To give a 19-kg child a ride, two teenagers pull on a 3.7-kg sled with ropes, as indicated in FIGURE 5-35. Both teenagers pull with a force of 55 N at an angle of 35 relative to the forward...
-
A car dealer acquires a used car for $ 14,000, terms FOB shipping point. Additional costs in obtaining and offering the car for sale include $ 250 for transportation-in, $ 900 for import duties, $...
-
Determine the bending strain energy in the beam and the axial strain energy in each of the two rods. The beam is made of 2014-T6 aluminum and has a square cross section \(50 \mathrm{~mm}\) by \(50...
-
Cushing Corporation is considering the purchase of a new grading machine to replace the existing one. The existing machine was purchased 3 years ago at an installed cost of $20,000; it was being...
-
How can the following organizations Alzheimer's, Healthcare Insurance Companies, Skilled Nursing Facility, Mayo Clinic and NYU Langone monitor performance, achieve regulatory and accreditation...
-
The average full-sized front-loading Energy Star clothes washer uses 15 gallons of water per load (greenbuildingadvisor.com, December 4, 2015). Assume that the population standard deviation for the...
-
The following data are available for two companies, Apple and Oracle, all stated in thousands of dollars. (a) Calculate each companys return on equity (ROE) and return on assets (ROA). (b) Which...
-
Definitional problems: Listed are 11 terms that relate to ratio analysis: 1. Book value per share 2. Inventory turnover 3. Debttoequity ratio 4. Average collection period 5. Average sales period 6....
-
The amount of chemical produced between times t = 5 and t = 10 if the amount P follows dP/dt = 5/1 + 2.0t with initial condition P(0.0) = 2.0, and t is measured in minutes and P in moles. Find the...
-
What is the GNP for this economy?
-
What is the purpose of the 4 Cs of Truth about Communication and CPORT when writing communications?
-
Air at 100 kPa, 295K and moving at 710 m/s is decelerated isentropically to 250 m/s. Determine the final static temperature and static pressure.
-
When we sample from an infinite population, what happens to the standard error of the mean if the sample size is (a) increased from 100 to 200 ; (b) increased from 200 to 300 ; (c) decreased from 360...
-
If 2 independent samples of sizes \(n_{1}=26\) and \(n_{2}=8\) are taken from a normal population, what is the probability that the variance of the second sample will be at least 2.4 times the...
-
Under what conditions is the following SQL statement valid?
-
a. What is the cost of borrowing if Amarjit borrows $28 500 and repays it over a four-year period? b. How many shares of each stock would he get if he used the $28 500 and invested equally in all...
-
Determine whether the following expenditures by Cuckoo Corporation are organizational expenditures, startup expenditures, or neither. a. Legal expenses incurred for drafting the corporate charter and...
-
When are C corporations required to make estimated tax payments? How are these payments calculated?
-
Schedule M1 of Form 1120 is used to reconcile financial net income with taxable income reported on the corporations income tax return as follows: net income per books + additions subtractions =...
-
Suppose the pressure in the esophagus is - 1.95 mm Hg while that in the stomach is + 18.5 mm Hg. To what height, in centimeters, could stomach fluid rise in the esophagus, assuming it has a density...
-
When light of wavelength190nm falls on acesiumsurface, electrons having a maximum kinetic energy of 4.39eV are emitted. Find values for the following. (a) the work function of cesium eV? (b) the...
-
A soft tennis ball is dropped onto a hard floor from a height of 1.55 m and rebounds to a height of 1.12m. (Assume that the positive direction is upward.) (a) Calculate its velocity (in m/s) just...
Study smarter with the SolutionInn App