Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

The balance sheet and income statement shown below are for Alcoa. Note that the firm has no amortization charges and it does not lease any assets and none of its debt must be retired during the next 5 years, although the notes payable will be rolled over.

Balance Sheet (Millions of $)

Assets 2007

Cash and securities                                    $1,554.0
Accounts receivable                                      9,660.0
Inventories                                                14,440.0
Total current assets                                  $25,654.0
Net plant and equipment                             17,346.0
Total assets                                             $43,000.0

Liabilities and Equity

Accounts payable                                       $7,980.0
Notes payable                                              6,880.0
Accruals                                                      4,620.0
Total current liabilities                                $19,480.0
Long-term bonds                                        10,920.0
Total debt                                                 $30,400.0
Common stock                                              3,360.0
Retained earnings                                          9,240.0
Total common equity                                  $12,600.0
Total liabilities and equity                            $43,000.0

Income Statement (Millions of $) 2007

Net sales                                                 $58,800.00
Operating costs except depreciations           $54,978.0
Depreciation                                                $1,029.0
Earnings benefits and taxes (EBIT)                $2,793.0
Less interest                                                 1,050.0
Earnings before taxes (EBT)                          $1,743.0
Taxes                                                             $610.1
Net income                                                   $1,133.0

Other data:

Shares outstanding (millions)                             175.00
Common dividends                                          $509.83
Int rate on notes payable & L-T bonds                6.25%
Federal plus state income tax rate                          35%
Year-end stock price                                          $77.69

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M93301
  • Price:- $35

Priced at Now at $35, Verified Solution

Have any Question? 


Related Questions in Financial Accounting

Paperwrite a five- to seven-page financial statement

Paper Write a five- to seven-page financial statement analysis of a public company, formatted according to APA style as outlined in the Ashford Writing Center. In this analysis, you will discuss the financial health of t ...

Exercise 1 recognizing accrued interest expenseharveys

Exercise 1. Recognizing accrued interest expense Harveys Corporation borrowed $60,000 from the bank on November 1, 2014. The note had a 6 percent annual rate of interest and matured on April 30, 2015. Interest and princi ...

What are some different ways you could communicate a

What are some different ways you could communicate a concept for a new user interface for an automotive audio system? What are the strengths and weaknesses of each approach?

Need at least 750 wordsprepare and submit a report about

Need at least 750 words Prepare and submit a report about any government process which has been re engineered using IT like E-gate in the airport. Discuss the strategies of change management that you think was applied to ...

How does carr characterize the difference between

How does Carr characterize the difference between infrastrctural technology and proprietary technology? Can proprietary technologies be used for long term strategic advantage? What is an example of a company proprietary ...

Assignmenton december 1 2015 john and patty driver formed a

Assignment On December 1, 2015, John and Patty Driver formed a corporation called Susquehanna Equipment Rentals. The new corporation was able to begin operations immediately by purchasing the assets and taking over the l ...

Todays workforce is increasingly made up of part-time or

Today's workforce is increasingly made up of part-time or contingent employees. Is organizational culture important if the workforce is comprised of mostly temporaries

Question 1 an advantage of the corporate form of business

Question 1. An advantage of the corporate form of business is _____. it is simple to establish the corporate tax rate is less than the personal tax rate corporations must pay dividends the shareholders are not responsibl ...

Bad debt expense calculationsone of my classes a few terms

Bad Debt Expense Calculations One of my classes a few terms ago asked for an example or a bit better explanation regarding calculating Bad Debt Expenses. The following is what I have come up with. There are three basic m ...

Briefly describe a health care provider with which you are

Briefly describe a health care provider with which you are familiar and how that organization should position its offerings. Provide specific examples to support your response. Referring to the same health care provider, ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen