Problem Set #1 FI 311 Excel Problem

Company ZYX has asked you to help complete some of their finance work for 2015. They tell you the interest for the year was $50,000, and the corporate tax rate was 38%. Company ZYX's 2015 Income Statement:

	2015	2014
Sales	$ 3,450,000	$3,000,000
COGS	986,000	658,934
Gross Profit	2,464,000	2,341,066
SG&A Expenses	239,000	191,200
Depreciation	135,000	108,000
EBIT	2,090,000	2,041,866
Interest Expense	50,000	25,833
EBT	2,040,000	2,016,033
Taxes	775200	766,092
Net Income	1,264,800	1,249,940

Using excel, please fill in the missing parts of the income statement.

Calculate the operating cash flow amount for 2015

What is the cash coverage for 2015?

If you were told that the amount of inventory on the 2015 balance sheet was $275,000, what is the inventory turnover?

Given your findings in part A, what is the days in inventory? (Round to nearest whole number)