Bailey Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of
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Bailey Corporation's financial statements (dollars and shares are in millions) are provided here.
Balance Sheets as of December 31 | |||
2014 | 2013 | ||
Assets | |||
Cash and equivalents | $ 15,000 | $ 14,000 | |
Accounts receivable | 30,000 | 25,000 | |
Inventories | 29,835 | 24,000 | |
Total current assets | $ 74,835 | $ 63,000 | |
Net plant and equipment | 48,000 | 46,000 | |
Total assets | $122,835 | $109,000 | |
Liabilities and Equity | |||
Accounts payable | $ 11,000 | $ 9,500 | |
Notes payable | 6,700 | 5,250 | |
Accruals | 7,600 | 7,000 | |
Total current liabilities | $ 25,300 | $ 21,750 | |
Long-term bonds | 15,000 | 15,000 | |
Total debt | $ 40,300 | $ 36,750 | |
Common stock (5,000 shares) | 40,000 | 40,000 | |
Retained earnings | 42,535 | 32,250 | |
Common equity | $ 82,535 | $ 72,250 | |
Total assets | $122,835 | $109,000 |
Income Statement for Year Ending December 31, 2014 | |
Sales | $248,000 |
Operating costs excluding depreciation and amortization | 200,000 |
EBITDA | $ 48,000 |
Depreciation & amortization | 4,000 |
EBIT | $ 44,000 |
Interest | 7,000 |
EBT | $ 37,000 |
Taxes (40%) | 14,800 |
Net income | $ 22,200 |
Dividends paid | 11,915 |
Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000.
What was net operating working capital for 2013 and 2014?
2013 | $ million |
2014 | $ million |
What was Bailey's 2014 free cash flow?
Construct Bailey's 2014 statement of stockholders' equity.
Common Stock | Retained Earnings | Total Stockholders' Equity | ||
Shares | Amount | |||
Balances, 12/31/13 | million | $ million | $ million | $ million |
2014 Net Income | million | |||
Cash Dividends | million | |||
Addition (Subtraction) to retained earnings | million | |||
Balances, 12/31/14 | million | $ million | $ million | $ million |
What was Bailey's 2014 EVA? Assume that its weighted average cost of capital is 10%. Round your answer to the nearest cent.
What was Bailey’s MVA at year-end 2014? Assume that its stock price at December 31, 2014 was $20.
Related Book For
Fundamentals of Financial Management
ISBN: 978-1285867977
14th edition
Authors: Eugene F. Brigham, Joel F. Houston
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