公司理财1
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Chapter 2-3 homework
1、Prepare an income statement from the following
data.
Sales $500,000
Cost of goods sold 200,000
Administrative expenses 100,000
Interest expense 50,000
The firm's tax rate is 34 percent.
2、Ritter Corporation's accountants prepared the following financial statements for year-end 20X2.
RITTER CORPORATION
Income Statement
20X2
Revenue $400 Expenses 250 Depreciation 50 Net Income $100 Dividends $50
RITTER CORPORATION
Balance Sheets
December 31
20X2 20X1
Assets
Current Assets $150 $100
Net fixed assets 200 100
Total assets $350 $200
Liabilities and Equity
Current liabilities $75 $50
Long-term debt 75 0
Stockholders' equity 200 150
Total liabilities and equity $350 $200
a. Explain the change in cash during the year 20X2.
b. Determine the change in net working capital in 20X2.
c. Determine the cash flow during the year
20X2.