In: Finance
17. The balance in a firm's cash account was $139,252 at the end of 2018. In 2017, a firm had cash flows from operations of $317,848, cash flows from investing activities of negative $483,850 and cash flows from financing activities of $172,500. What was the firm’s beginning cash balance for 2018?
18. A firm reports net sales equal $965,250; gross profit equals
$562,475; interest expense equals $36,750, addition to retained
earnings equal $127,624; dividends paid to preferred and common
stockholders equal $92,000; administrative and operating expenses
equal $195,000. The firm's marginal tax rate is 30 percent. What is
the firm’s net income?
19. House Supply, Inc. has total assets of $3,425,825 of which
$1,286,350 are current assets. Cash makes up 18 percent of the
current assets and accounts receivable makes up another 36 percent
of current assets. House Supply’s gross plant and equipment has an
original cost of $2,467,400 and other long-term assets have a cost
value of $426,700. What is the balance of depreciation on House
Supply’s balance sheet?
20. Cedar Stakes, Inc. has current liabilities of $203,450. Cash
makes up 16 percent of the current assets and accounts receivable
equals $73,489. If Cedar Stakes has net working capital of $80,750,
what is the amount of inventory?