Question
In: Finance
Better Burgers reported the following numbers (in millions) for the years ending February 2017 and 2018....
| Better Burgers reported the following numbers (in millions) for the years ending February 2017 and 2018. |
| 2017 | 2018 | |||||||
| Net income | $ | 1,487 | ||||||
| Dividends | 212 | |||||||
| Total assets | $ | 13,650 | 12,838 | |||||
| Total equity | 6,281 | 4,564 | ||||||
| What are the internal and sustainable growth rates? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
| What are the internal and sustainable growth rates using ROE × b and ROA × b and the end of period equity (assets)? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
| What are the growth rates if you use the beginning of period equity in this equation? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) |
Solutions
jeff jeffy answered 1 year agoRelated Solutions
Holmes Company reported the following balance sheets at December 31, 2017 and 2018: ($ in millions)...
Holmes Company reported the following balance sheets at December
31, 2017 and 2018:
($ in millions)
December 31,
2018
2017
Cash
$
45
$
40
Accounts receivable
170
175
Inventory
250
230
Fixed assets
500
400
Accumulated depreciation
(150
)
(120
)
Total assets
$
815
$
725
Accounts payable
$
100
$
80
Long-term debt
455
425
Common stock
50
50
Retained earnings
280
200
Treasury stock
(70
)
(30
)
Total liabilities and
stockholders' equity
$
815
$...
Arndt, Inc., reported the following for 2018 and 2019 ($ in millions): 2018 2019 Revenues $...
Arndt, Inc., reported the following for 2018 and 2019 ($ in
millions):
2018
2019
Revenues
$
913
$
988
Expenses
770
810
Pretax accounting income (income statement)
$
143
$
178
Taxable income (tax return)
$
135
$
200
Tax rate: 40%
Expenses each year include $30 million from a two-year casualty
insurance policy purchased in 2018 for $60 million. The cost is tax
deductible in 2018.
Expenses include $2 million insurance premiums each year for
life insurance on key...
Arndt, Inc., reported the following for 2018 and 2019 ($ in millions): 2018 2019 Revenues $...
Arndt, Inc., reported the following for 2018 and 2019 ($ in
millions): 2018 2019 Revenues $ 996 $ 1,031 Expenses 784 824 Pretax
accounting income (income statement) $ 212 $ 207 Taxable income
(tax return) $ 210 $ 230 Tax rate: 40% Expenses each year include
$30 million from a two-year casualty insurance policy purchased in
2018 for $60 million. The cost is tax deductible in 2018. Expenses
include $3 million insurance premiums each year for life insurance
on key...
Arndt, Inc., reported the following for 2018 and 2019 ($ in millions): 2018 2019 Revenues $...
Arndt, Inc., reported the following for 2018 and 2019 ($ in
millions): 2018 2019 Revenues $ 996 $ 1,031 Expenses 784 824 Pretax
accounting income (income statement) $ 212 $ 207 Taxable income
(tax return) $ 210 $ 230 Tax rate: 40% Expenses each year include
$30 million from a two-year casualty insurance policy purchased in
2018 for $60 million. The cost is tax deductible in 2018. Expenses
include $3 million insurance premiums each year for life insurance
on key...
Arndt, Inc., reported the following for 2018 and 2019 ($ in millions): 2018 2019 Revenues $...
Arndt, Inc., reported the following for 2018 and 2019 ($ in
millions):
2018
2019
Revenues
$
893
$
992
Expenses
764
804
Pretax accounting income (income statement)
$
129
$
188
Taxable income (tax return)
$
130
$
200
Tax rate: 40%
Expenses each year include $20 million from a two-year casualty
insurance policy purchased in 2018 for $40 million. The cost is tax
deductible in 2018.
Expenses include $2 million insurance premiums each year for
life insurance on key...
The Murdock Corporation reported the following balance sheet data for 2018 and 2017: 2018 2017...
The Murdock Corporation reported the following balance sheet
data for 2018 and 2017:
2018
2017
Cash
$
96,245
$
33,155
Available-for-sale debt securities (not cash equivalents)
24,000
102,000
Accounts receivable
97,000
83,550
Inventory
182,000
160,300
Prepaid insurance
3,030
3,700
Land, buildings, and equipment
1,284,000
1,142,000
Accumulated depreciation
(627,000
)
(589,000
)
Total assets
$
1,059,275
$
935,705
Accounts payable
$
91,640
$
165,670
Salaries payable
26,800
33,000
Notes payable (current)
40,300
92,000
Bonds payable
217,000
0
Common stock
300,000...
The Murdock Corporation reported the following balance sheet data for 2018 and 2017: 2018 2017...
The Murdock Corporation reported the following balance sheet
data for 2018 and 2017:
2018
2017
Cash
$77,375
$22,955
Available-for-sale debt securities
(not cash equivalents)
15,500
85,000
Accounts receivable
80,000
68,250
Inventory
165,000
145,000
Prepaid insurance
1,500
2,000
Land, buildings, and equipment
1,250,000
1,125,000
Accumulated depreciation
(610,000)
(572,000)
Total assets
$979,375
$876,205
Accounts payable
$76,340
$148,670
Salaries payable
20,000
24,500
Notes payable (current)
25,000
75,000
Bonds payable
200,000
0
Common stock
300,000
300,000
Retained earnings
358,035
328,035
Total...
The Murdock Corporation reported the following balance sheet data for 2018 and 2017: 2018 2017...
The Murdock Corporation reported the following balance sheet
data for 2018 and 2017:
2018
2017
Cash
$
82,925
$
25,955
Available-for-sale debt
securities (not cash equivalents)
18,000
90,000
Accounts receivable
85,000
72,750
Inventory
170,000
149,500
Prepaid insurance
1,950
2,500
Land, buildings, and
equipment
1,260,000
1,130,000
Accumulated depreciation
(615,000
)
(577,000
)
Total assets
$
1,002,875
$
893,705
Accounts payable
$
80,840
$
153,670
Salaries payable
22,000
27,000
Notes payable (current)
29,500
80,000
Bonds payable
205,000
0
Common stock
300,000...
Arndt, Inc., reported the following for 2018 and 2019 ($ in millions): PLEASE FILL IN THE...
Arndt, Inc., reported
the following for 2018 and 2019 ($ in millions):
PLEASE FILL IN THE BLANKS
2018
2019
Revenues
$
995
$
1,055
Expenses
798
838
Pretax
accounting income (income statement)
$
197
$
217
Taxable income
(tax return)
$
185
$
255
Tax rate:
40%
Expenses each year include $40 million from a two-year casualty
insurance policy purchased in 2018 for $80 million. The cost is tax
deductible in 2018.
Expenses include $3 million insurance premiums each year...
Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 2017 Sales...
Powell Panther Corporation: Income Statements for Year
Ending December 31 (Millions of Dollars)
2018
2017
Sales
$
3,250.0
$
2,600.0
Operating costs excluding depreciation and amortization
2,763.0
2,210.0
EBITDA
$
487.0
$
390.0
Depreciation and amortization
90.0
78.0
Earnings before interest and taxes (EBIT)
$
397.0
$
312.0
Interest
72.0
57.0
Earnings before taxes (EBT)
$
325.0
$
255.0
Taxes (40%)
130.0
102.0
Net income
$
195.0
$
153.0
Common dividends
$
176.0
$
122.0
Powell Panther Corporation: Balance Sheets...
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