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The CEO of Smartphone Apps, LLC is preparing a loan application. Using the data below (only), prepare an Income Statement. Within this Income statement, include totals for Cost of Goods Sold, Gross Margin, Sales General, and Administrative, Earnings before Interest and Taxes, Pretax Income, and Net Income. Also compute the Profit Margin on Sales. Submit using a spreadsheet.

Net Revenue $1,458,000
Production Labor Costs $385,444
Material Costs $247,500
Marketing $127,000
Depreciation $58,122
Research and Development $98,000
Administrative $258,300
Interest Expense $21,608
Taxes 25% of pretax Income

Slot Precision Services, Inc. has five alternative broaching machines/processes that are being studied. Only one will be chosen and the data is shown below. Recommend the choice for management that uses the internal rate of return criterion. Compare this with the decision with that of a Present Worth criterion. Submit your solution in a spreadsheet.

Time Horizon 5 years

Alternatives Investment in year 0 Annual Cash Flow Salvage value in last year

1 $50,000 $18,000 $0
2 $250,000 $85,000 $75,000
3 $350,000 $105,000 $125,000
4 $600,000 $150,000 $400,000
5 $800,000 $165,000 $600,000

Accounting Basics, Accounting

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