Question
In: Finance
Cardinal Industries had the following operating results for 2018: Sales = $33,510; Cost of goods sold...
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Cardinal Industries had the following operating results for 2018: Sales = $33,510; Cost of goods sold = $23,820; Depreciation expense = $5,917; Interest expense = $2,670; Dividends paid = $1,924. At the beginning of the year, net fixed assets were $19,860, current assets were $6,998, and current liabilities were $3,944. At the end of the year, net fixed assets were $24,430, current assets were $8,636, and current liabilities were $4,601. The tax rate for 2018 was 24 percent. |
| a. | What is net income for 2018? (Do not round intermediate calculations.) |
| b. | What is the operating cash flow for 2018? (Do not round intermediate calculations.) |
| c. | What is the cash flow from assets for 2018? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) |
| d-1. | If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations.) |
| d-2. | If no new debt was issued during the year, what is the cash flow to stockholders? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) |
Solutions
Expert Solution
Use spreadsheet for the required computations. Enter values and formulas in the spreadsheet as shown in the image below.
The obtained result is provided below.
jeff jeffy answered 2 years agoRelated Solutions
Cardinal Industries had the following operating results for 2018: Sales = $33,510; Cost of goods sold...
Cardinal Industries had the following operating results for
2018: Sales = $33,510; Cost of goods sold = $23,820; Depreciation
expense = $5,917; Interest expense = $2,670; Dividends paid =
$1,924. At the beginning of the year, net fixed assets were
$19,860, current assets were $6,998, and current liabilities were
$3,944. At the end of the year, net fixed assets were $24,430,
current assets were $8,636, and current liabilities were $4,601.
The tax rate for 2018 was 24 percent.
a....
Cardinal Industries had the following operating results for 2018: Sales = $34,015; Cost of goods sold...
Cardinal Industries had the following operating results for
2018: Sales = $34,015; Cost of goods sold = $24,065; Depreciation
expense = $5,967; Interest expense = $2,695; Dividends paid =
$1,969. At the beginning of the year, net fixed assets were
$19,910, current assets were $7,033, and current liabilities were
$3,974. At the end of the year, net fixed assets were $24,475,
current assets were $8,666, and current liabilities were $4,646.
The tax rate for 2018 was 24 percent. a. What...
Cardinal Industries had the following operating results for 2018: Sales = $35,126; Cost of goods sold...
Cardinal Industries had the following operating results for
2018: Sales = $35,126; Cost of goods sold = $24,604; Depreciation
expense = $6,077; Interest expense = $2,750; Dividends paid =
$2,068. At the beginning of the year, net fixed assets were
$20,020, current assets were $7,110, and current liabilities were
$4,040. At the end of the year, net fixed assets were $24,574,
current assets were $8,732, and current liabilities were $4,745.
The tax rate for 2018 was 25 percent. a. What...
Cardinal Industries had the following operating results for 2018: Sales = $34,924; Cost of goods sold...
Cardinal Industries had the following operating results for
2018: Sales = $34,924; Cost of goods sold = $24,506; Depreciation
expense = $6,057; Interest expense = $2,740; Dividends paid =
$2,050. At the beginning of the year, net fixed assets were
$20,000, current assets were $7,096, and current liabilities were
$4,028. At the end of the year, net fixed assets were $24,556,
current assets were $8,720, and current liabilities were $4,727.
The tax rate for 2018 was 23 percent. a. What...
Cardinal Industries had the following operating results for 2018: Sales = $34,217; Cost of goods sold...
Cardinal Industries had the following operating results for
2018: Sales = $34,217; Cost of goods sold = $24,163; Depreciation
expense = $5,987; Interest expense = $2,705; Dividends paid =
$1,987. At the beginning of the year, net fixed assets were
$19,930, current assets were $7,047, and current liabilities were
$3,986. At the end of the year, net fixed assets were $24,493,
current assets were $8,678, and current liabilities were $4,664.
The tax rate for 2018 was 21 percent.
a....
Cardinal Industries had the following operating results for 2018: Sales = $35,025; Cost of goods sold...
Cardinal Industries had the following operating results for
2018: Sales = $35,025; Cost of goods sold = $24,555; Depreciation
expense = $6,067; Interest expense = $2,745; Dividends paid =
$2,059. At the beginning of the year, net fixed assets were
$20,010, current assets were $7,103, and current liabilities were
$4,034. At the end of the year, net fixed assets were $24,565,
current assets were $8,726, and current liabilities were $4,736.
The tax rate for 2018 was 24 percent. a. What...
8. Cardinal Industries had the following operating results for 2018: Sales = $35,025; Cost of goods...
8. Cardinal Industries had the following operating results for
2018: Sales = $35,025; Cost of goods sold = $24,555; Depreciation
expense = $6,067; Interest expense = $2,745; Dividends paid =
$2,059. At the beginning of the year, net fixed assets were
$20,010, current assets were $7,103, and current liabilities were
$4,034. At the end of the year, net fixed assets were $24,565,
current assets were $8,726, and current liabilities were $4,736.
The tax rate for 2018 was 24 percent.
a....
SOLVED Cardinal Industries had the following operating results for 2018: Sales = $34,116; Cost of goods...
SOLVED
Cardinal Industries had the following operating results for
2018: Sales = $34,116; Cost of goods sold = $24,114; Depreciation
expense = $5,977; Interest expense = $2,700; Dividends paid =
$1,978. At the beginning of the year, net fixed assets were
$19,920, current assets were $7,040, and current liabilities were
$3,980. At the end of the year, net fixed assets were $24,484,
current assets were $8,672, and current liabilities were $4,655.
The tax rate for 2018 was 25 percent. a....
Nanticoke Industries had the following operating results for 2018: sales $29,000; cost of goods sold =...
Nanticoke Industries had the following operating results for
2018: sales $29,000; cost of goods sold = $19,710; depreciation
expense = $5,220; interest expense = $2,640; dividends paid =
$1,400. At the beginning of the year, net fixed assets were
$17,330, current assets were $5,850, and current liabilities were
$3,300. At the end of the year, net fixed assets were $20,610,
current assets were $7,150, and current liabilities were $3,970.
The tax rate for 2018 was 30 %.
a) net income...
Cusic Industries had the following operating results for 2015: sales = $28,560; cost of goods sold...
Cusic Industries had the following operating results for 2015:
sales = $28,560; cost of goods sold = $19,460; depreciation expense
= $5,020; interest expense = $2,340; dividends paid = $1,150. At
the beginning of the year, net fixed assets were $16,980, current
assets were $5,800, and current liabilities were $3,280. At the end
of the year, net fixed assets were $20,360, current assets were
$7,360, and current liabilities were $3,900. The tax rate for 2015
was 30 percent.
a....
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