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problem1. On February 22, 2009 (the real Washington's Birthday!) you company bought office furniture for 35000 dollars. What would be the dollar value of depreciation your company could take in the following years supposing they use MACRS?

a. 2008
b. 2010
c. 2011
d. 2016
e. 2017

problem2. On Sept 30th, the Disney Corp had the = Retained Earnings balance of $7,933 million. One year later it had jumped to $9,557 million. They sold no stock throughout the year but did pay $342 million in common dividends. Their DPS = $0.51. Given this information:

a. what should have been their net income for the year?

b. how many shares of stock must be outstanding?

problem3. The following 10 problems pertain to "Cline Custome Bikes" their income statement and balance sheet.

a) What was their depreciation expense for 2000?

b) What were the current ratios for BOTH 1999 and 2000?

c) Was their current ratio for year 2000 better or worse compared to 1999?

d) What was their inventory turnover ratio of 2000?

e) What was the average collection period (year 2000) for accounts receivable?

f) What was their marginal tax rate?

g) How many shares of common stock did they issue (sell) in year 2000?

h) What were their earnings per share?

i) How much did they pay in preferred stock dividends?

j) What was their "TIE" (times interest earned) ratio?

problem4. ABC Corp. provides you with the following data: Sales: $500,000; Operating profit: $300,000; Interest expense: $25,000; Net Income: $100,000; Common stock (par): $10,000; Paid-in capital in excess of par: $210,000; total number of common shares outstanding: 10,000.

a. Given the above (and assuming no flotation costs) what was the price of a share of common stock when it was sold?

b. Assuming no preferred stock, what was the EPS?

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