S AND PROBLEMS 1. Building a Balance Sheet [LO1] Wims, Inc., has current assets of $4,900, net fixed assets of $27,300, current liabilities of $4,100, and long-term debt of $10,200. What is the value of the shareholders' equity account for this firm? How much is net working capital? CO BASIC (Questions t 2. Building an Income Statement [LO1] Griffin's Goat Farm, Inc., has sales of 72 $796,000, costs of $327,000, depreciation expense of $42,000, interest expense of $34,000, and a tax rate of 21 percent. What is the net income for this firm? 3. Dividends and Retained Earnings [LO1] Suppose the firm in Problem 2 paid out $95,000 in cash dividends. What is the addition to retained earnings? 4. Per-Share Earnings and Dividends [LO1] Suppose the firm in Problem 3 had 80,000 shares of common stock outstanding. What is the earnings per share, or EPS. figure? What is the dividends per share figure? 5. Calculating OCF [LO4] Pompeii, Inc., has sales of $46,200, costs of $23,100, depre 72 ciation expense of $2,200, and interest expense of $1,700. If the tax rate is 22 percent, what is the operating cash flow, or OCF? 6. Calculating Net Capital Spending [LO4] Logano Driving School's 2017 balance sheet showed net fixed assets of $2.4 million, and the 2018 balance sheet showed net fixed assets of $3.3 million. The company's 2018 income statement showed a depre- ciation expense of $319,000. What was net capital spending for 2018? chest of Dream. Inc.. 11. Market Values and Book Values [LO1] Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $6 million. The machinery can be sold to the Romulans today for $5.1 million. Klingon's current balance sheet shows net fixed assets of $3.4 million, current liabilities of $895,000, and net working capital of $235,000. If the current assets and current liabilities were liquidated today, the com- pany would receive a total of $1.15 million cash. What is the book value of Klingon's total assets today? What is the sum of the market value of NWC and the market value of fixed assets