In: Finance
Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars)
2016 | 2015 | ||
Sales | $9,000.0 | $7,500.0 | |
Operating costs excluding depreciation | 7,200.0 | 6,375.0 | |
Depreciation and amortization | 233.0 | 203.0 | |
Earnings before interest and taxes | $1,567.0 | $922.0 | |
Less Interest | 193.0 | 161.0 | |
Pre-tax income | $1,374.0 | $761.0 | |
Taxes (40%) | 549.6 | 304.4 | |
Net income available to common stockholders | $824.4 | $456.6 | |
Common dividends | $742.0 | $365.0 |
Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)
2016 | 2015 | ||
Assets | |||
Cash | $123.0 | $98.0 | |
Short-term investments | 46.0 | 38.0 | |
Accounts receivable | 1,365.0 | 1,050.0 | |
Inventories | 2,160.0 | 1,800.0 | |
Total current assets | $3,694.0 | $2,986.0 | |
Net plant and equipment | 2,329.0 | 2,025.0 | |
Total assets | $6,023.0 | $5,011.0 | |
Liabilities and Equity | |||
Accounts payable | $863.0 | $750.0 | |
Accruals | 270.0 | 225.0 | |
Notes payable | 180.0 | 150.0 | |
Total current liabilities | $1,313.0 | $1,125.0 | |
Long-term debt | 1,800.0 | 1,500.0 | |
Total liabilities | $3,113.0 | $2,625.0 | |
Common stock | 2,690.6 | 2,249.0 | |
Retained earnings | 219.4 | 137.0 | |
Total common equity | $2,910.0 | $2,386.0 | |
Total liabilities and equity | $6,023.0 | $5,011.0 |
Using Rhodes Corporation's financial statements (shown above), answer the following questions.
After-tax interest payment | $ million |
Reduction (increase) in debt | $ million |
Payment of dividends | $ million |
Repurchase (Issue) stock | $ million |
Purchase (Sale) of short-term investments | $ million |