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Construct a balance sheet for the MMM company given the following data: Cash balances = $21,000; Accounts payable = $31,000; Inventory of sofas = $380,000; Store and property = $170,000; Accounts receivable = $42, 000; and Long-term debt = $340,000
Construct a balance sheet for the MMM company given the following data: Cash balances = $21,000; Accounts payable = $31,000; Inventory of sofas = $380,000; Store and property = $170,000; Accounts receivable = $42, 000; and Long-term debt = $340,000. What is shareholders' equity? Votre réponse Gamma company income statement includes the following data. The average tax rate is 24%. Cost of goods sold $16,000; Income taxes paid $3,500; Administrative expenses $5,800; Interest expense $1,500; and Depreciation $1,200. a) What is Beta's net income? b) What must have been the Beta's revenues? c) What is EBIT? Votre réponse Compute the future value of a $1250 cash flow for the following combinations of rates and times: r =6%, t = 8 years Votre réponse Compute the future value of a $1200 cash flow for the following combinations of rates and times: r =5%, t = 10 years
Expert Solution
| Balance sheet of MMM Company | |||
| Liabilities | Amount | Assets | Amount |
| Accounts Payable | $31,000 | Cash balances | $21,000 |
| Long term Debt | $340,000 | Inventory of Sofas | $380,000 |
| Shareholder's equity | $242,000 | Store and property | $170,000 |
| Accounts receivable | $42,000 | ||
| Total Liabilities | $613,000 | Total Assets | $613,000 |
Therefore, Shareholder's equity is $242,000.
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