Question 1 : Using the following financial statement data, calculate the difference between total nonoperating assets and total nonoperating liabilities. If your result is a negative value, please present your answer with a negative sign.
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Cash
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$176
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Short-term investments
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$231
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Accounts receivable
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$392
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Inventory
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$493
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Other current assets
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$164
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Fixed assets (net)
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$1,082
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Intangible assets
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$216
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Long-term investments
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$312
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Other noncurrent assets
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91
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|
|
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Short-term debt
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$284
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Accounts payable
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$350
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Accrued liabilities
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$200
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Other current liabilities
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$110
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Long-term debt
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$1,055
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Other long-term liabilities
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$225
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Stockholders' equity
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$259
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Question 2 : Using the following financial statement data, calculate total operating assets.
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Cash
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$130
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Short-term investments
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$278
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Accounts receivable
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$375
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Inventory
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$618
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Other current assets
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$210
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Fixed assets (net)
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$1,095
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Intangible assets
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$240
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Long-term investments
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$255
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Other noncurrent assets
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$122
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|
|
|
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Short-term debt
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$119
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Accounts payable
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$306
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Accrued liabilities
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$263
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Other current liabilities
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$58
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Long-term debt
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$934
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Other long-term liabilities
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$202
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Stockholders' equity
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$279
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Question 3 : For the most recent year KRJ Enterprises reported net operating profits after tax of $2,461 million and it expects its NOPAT to increase by 3% next year. The company also reported net operating assets of $32,545 million and expects NOA to increase by 4% next year. What would be the forecasted amount of free cash flow (in $ million)for next year?
Question 4 : Based on last year's results and various projections of its future operations, you have determined that Amazon Corporation's free cash flows, which were $3,761 million this year will grow in perpetuity at 4% per year. The company has nonoperating assets of $612 million and nonoperating liabilities of $2,328 million. The weighted average cost of capital is 12% and there are 613 million shares of common stock outstanding. What is the implied value of the company's common stock? Present your answer to two decimal places (e.g., $20.00).
Question 5 : Using the following financial statement data, calculate netoperating assets.
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Cash
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$188
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Short-term investments
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$232
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Accounts receivable
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$574
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Inventory
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$452
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Other current assets
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$293
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Fixed assets (net)
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$1,453
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Intangible assets
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$214
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Long-term investments
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$330
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Other noncurrent assets
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$155
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|
|
|
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Short-term debt
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$146
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Accounts payable
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$325
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Accrued liabilities
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$373
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Other current liabilities
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$304
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Long-term debt
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$935
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Other long-term liabilities
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$356
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Stockholders' equity
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$281
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Question 6 : Everglade Enterprises reported the following information for fiscal 2017 and 2017. What was the company's free cash flow for 2017?
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December 31
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2017
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2016
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Operating assets
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$74,275
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$61,707
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Operating liabilities
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$50,001
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$38,394
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Net cash flow from operations
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$7,933
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$5,481
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Net operating profit after tax (NOPAT)
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$5,756
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$4,307
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Question 7 : Venice Surf Co. expects to generate free cash flows of $2,761 million in 2018, $3,497 million in 2019, and $4,122 million in 2020. Free cash flows after 2020 are expected to grow indefinitely at an annual rate of 4%. Assuming a discount rate of 14%, what would be the terminal or horizon value of the cash flows occurring after 2020? That is, what would be the present value of all free cash flows (in $ million) occurring after 2020 as of the beginning of 2020? Present your answer to two decimal places (e.g., $20.00).
Question 8 : Selected data from the financial statements of KRJ Manufacturing are presented below. Calculate the company's net operating profit after taxes (NOPAT).
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Sales
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$136,985
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Operating profits (EBIT)
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$33,846
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Earnings before taxes (EBT)
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$30,373]
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Tax expense
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$11,799
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Question 9 : Venice Surf Co. expects to generate free cash flows of $2,593 million in 2018, $3,213 million in 2019, and $4,997 million in 2020. In addition, the terminal or horizon value at year-end 2020 of all free cash flows generated after 2020 is $36,881 million. The company has nonoperating assets of $4,985 million and nonoperating liabilities of $8,307 million and there are 950 million shares outstanding. Estimate the value (per share) or each share of common stock using the free cash flow information above, and assuming a discount rate of 12.56%. Present your answer to two decimal places (e.g., $20.00).
Question 10 : Using the following financial statement data, calculate total operating liabilities.
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Cash
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$177
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Short-term investments
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$269
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Accounts receivable
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$304
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Inventory
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$412
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Other current assets
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$160
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Fixed assets (net)
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$1,174
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Intangible assets
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$164
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Long-term investments
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$309
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Other noncurrent assets
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$82
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|
|
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Short-term debt
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$192
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Accounts payable
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$541
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Accrued liabilities
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$284
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Other current liabilities
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$181
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Long-term debt
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$997
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Other long-term liabilities
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$328
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Stockholders' equity
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$312
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