Questions
Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Dividend $         7.46 $         7.91...

Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Dividend $         7.46 $         7.91 $         8.38 $         8.80 $         9.24 $         9.70 $       10.28 $       10.79 $       11.33 $       12.01

Find both the arithmetic growth rate and the geometric growth rate of the dividends for Davy's Crock Pot Stores. Assuming the January​ 1, 2011 price of the stock is $110.00​, determine the current required rate of return for the company​ (use the geometric growth rate to calculate the required​ return.)

What is the arithmetic growth rate of the dividends for Davy's Crock Pot Stores​? (Round to two decimal​ places.)

What is the geometric growth rate of the dividends for Davy's Crock Pot Stores​? Round to two decimal​ places.)

What is the required rate of return for Davy's Crock Pot Stores​? Round to two decimal​ places.)

In: Finance

Sales of roof material, by quarter, since 2005 for Carolina Home Construction Inc. are shown below...

Sales of roof material, by quarter, since 2005 for Carolina Home Construction Inc. are shown below (in $ thousands).

Quarter
Year I II III IV
2004 210 180 60 246
2005 214 216 82 230
2006 246 228 91 280
2007 258 250 113 298
2008 279 267 116 304
2009 302 290 114 310
2010 321 291 120 320

1. Determine the typical seasonal patterns for sales using the ratio-to-moving-average method. (PLEASE DONOT USE EXCEL. PLEASE SHOW ALL MANUAL WORKINGS HOW DID YOU GET ANSWER IN THE TABLE)

2. Deseasonalize the data and determine the trend equation. PLEASE DONOT USE EXCEL. PLEASE SHOW ALL MANUAL WORKINGS HOW DID YOU GET ANSWER IN THE TABLE)

3. Project the sales for 2012, and then seasonally adjust each quarter.

In: Advanced Math

Publicly traded corporations are required to file an annual report each year. Please locate an annual...

Publicly traded corporations are required to file an annual report each year. Please locate an annual report for a publicly traded corporation. In your post, attach a copy of the latest annual report you found. Summarize what the company you chose does, and state what type of business this company is in. Would the company fall under the category of a service, merchandising, or manufacturing operation? Explain how this is evident in the financial statements. Summarize what you found in this annual financial filing.

300 words

In: Accounting

Publicly traded corporations are required to file an annual report each year. Please locate an annual...

Publicly traded corporations are required to file an annual report each year. Please locate an annual report for a publicly traded corporation. In your post, attach a copy of the latest annual report you found. Summarize what the company you chose does, and state what type of business this company is in. Would the company fall under the category of a service, merchandising, or manufacturing operation? Explain how this is evident in the financial statements. Summarize what you found in this annual financial filing.

300 words

In: Accounting

Publicly traded corporations are required to file an annual report each year. Please locate an annual...

Publicly traded corporations are required to file an annual report each year. Please locate an annual report for a publicly traded corporation. In your post, attach a copy of the latest annual report you found. Summarize what the company you chose does, and state what type of business this company is in. Would the company fall under the category of a service, merchandising, or manufacturing operation? Explain how this is evident in the financial statements. Summarize what you found in this annual financial filing.

300 words

In: Accounting

Compute and Interpret Altman's Z-scores Following is selected financial information for ebay, for its fiscal years...

Compute and Interpret Altman's Z-scores Following is selected financial information for ebay, for its fiscal years 2005 and 2006. (In millions, except per share data) 2006 2005 Current assets $ 4,972.59 $3,185.24 Current liabilities 2,518.39 1,484.93 Total assets 13,491.01 11,785.99 Total liabilities 2,584.38 1,736.00 Shares outstanding 1,364.51 1,400.18 Retained earnings 4,543.35 2,824.64 Stock price per share 31.07 44.22 Sales 5,967.74 4,550.40 Earnings before interest and taxes 1,444.77 1,450.18 Compute and interpret Altman Z-scores for the company for both years. (Do not round until your final answer; then round your answers to two decimal places.) 2006 z-score = Answer 2005 z-score = Answer.

In: Finance

Compute and Interpret Altman's Z-scores Following is selected financial information for ebay, for its fiscal years...

Compute and Interpret Altman's Z-scores
Following is selected financial information for ebay, for its fiscal years 2005 and 2006.

(In millions, except per share data) 2006 2005
Current assets $ 4,975.59 $ 3,188.24
Current liabilities 2,519.39 1,485.93
Total assets 13,490.01 11,784.99
Total liabilities 2,593.38 1,745.00
Shares outstanding 1,365.51 1,401.18
Retained earnings 4,537.35 2,818.64
Stock price per share 30.07 43.22
Sales 5,967.74 4,550.40
Earnings before interest and taxes 1,441.77 1,447.18

Compute and interpret Altman Z-scores for the company for both years. (Do not round until your final answer; then round your answers to two decimal places.)
2006 z-score = Answer


2005 z-score = Answer

In: Accounting

Compute and Interpret Liquidity, Solvency and Coverage Ratios Balance sheets and income statements for Lockheed Martin...

Compute and Interpret Liquidity, Solvency and Coverage Ratios
Balance sheets and income statements for Lockheed Martin Corporation follow. Refer to these financial statements to answer the requirements.

Income Statement
Year Ended December 31 (In millions) 2005 2004 2003
Net sales
Products $ 31,518 $ 30,202 $ 27,290
Service 5,695 5,324 4,534
37,213 35,526 31,824
Cost of sales
Products 27,882 27,637 25,306
Service 5,073 4,765 4,099
Unallocated coporate costs 803 914 443
33,758 33,316 29,848
3,455 2,210 1,976
Other income (expenses), net (449) (121) 43
Operating profit 3,006 2,089 2,019
Interest expense 370 425 487
Earnings before taxes 2,636 1,664 1,532
Income tax expense 811 398 479
Net earnings $ 1,825 $ 1,266 $ 1,053
Balance Sheet
December 31 (In millions) 2005 2004
Assets
Cash and cash equivalents $ 2,164 $ 780
Short-term investments 429 396
Receivables 4,579 4,094
Inventories 1,921 1,864
Deferred income taxes 861 982
Other current assets 495 557
Total current assets 10,449 8,673
Property, plant and equipment, net 3,924 3,599
Investments in equity securities 196 812
Goodwill 8,447 7,892
Purchased intangibles, net 560 672
Prepaid pension asset 1,360 1,030
Other assets 2,728 2,596
Total assets $ 27,664 $ 25,274
Liabilities and stockholders' equity
Accounts payable $ 1,998 $ 1,726
Customer advances and amounts in excess of costs incurred 4,331 4,028
Salaries, benefits and payroll taxes 1,475 1,346
Current maturities of long-term debt 202 15
Other current liabilities 1,422 1,451
Total current liabilities 9,428 8,566
Long-term debt 4,664 5,264
Accrued pension liabilities 2,097 1,300
Other postretirement benefit liabilities 1,277 1,236
Other liabilities 2,331 1,887
Stockholders' equity
Common stock, $1 par value per share 432 438
Additional paid-in capital 1,724 2,223
Retained earnings 7,278 5,915
Accumulated other comprehensive loss (1,553) (1,532)
Other (14) (23)
Total stockholders' equity 7,867 7,021
Total liabilities and stockholders' equity $ 27,664 $ 25,274
Consolidated Statement of Cash Flows
Year Ended December 31 (In millions) 2005 2004 2003
Operating Activities
Net earnings $ 1,825 $ 1,266 $ 1,053
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization 555 511 480
Amortization of purchased intangibles 150 145 129
Deferred federal income taxes 24 (58) 467
Changes in operating assets and liabilities:
Receivables (390) (87) (258)
Inventories (39) 519 (94)
Accounts payable 239 288 330
Customer advances and amounts in excess of costs incurred 296 (228) (285)
Other 534 568 (13)
Net cash provided by operating activities 3,194 2,924 1,809
Investing Activities
Expenditures for property, plant and equipment (865) (769) (687)
Acquisition of business/investments in affiliated companies (84) (91) (821)
Proceeds from divestiture of businesses/Investments in affiliated companies 935 279 234
Purchase of short-term investments, net (33) (156) (240)
Other 28 29 53
Net cash used for investing activities (19) (708) (1,461)
Financing Activities
repayment of long-term debt (413) (1,369) (2,202)
Issuances of long-term debt -- -- 1,000
Long-term debt repayment and issuance costs (12) (163) (175)
Issuances of common stock 406 164 44
Repurchases of common stock (1,310) (673) (482)
Common stock dividends (462) (405) (261)
Net cash used for financing activities (1,791) (2,446) (2,076)
Net increase (decrease) in cash and cash equivalents 1,384 (230) (1,728)
Cash and cash equivalents at beginning of year 780 1,010 2,738
Cash and cash equivalents at end of year $ 2,164 $ 780 $ 1,010

(a) Compute Lockheed Martin's current ratio and quick ratio for 2005 and 2004. (Round your answers to two decimal places.)
2005 current ratio = Answer


2004 current ratio = Answer

2005 quick ratio = Answer
2004 quick ratio = Answer

Which of the following best describes the company's current ratio and quick ratio for 2005 and 2004?

The current ratio has increased while the quick ratio has decreased in the period from 2004 to 2005, which suggests the company has a shortage of liquid assets.

Both the current and quick ratios have decreased from 2004 to 2005. The company is fairly illiquid.

Both the current and quick ratios have increased from 2004 to 2005. The company is fairly liquid.

The current ratio has decreased while the quick ratio has increased in the period from 2004 to 2005, which suggests the company has a shortage of current assets.



(b) Compute total liabilities-to-equity ratios and total debt-to-equity ratios for 2005 and 2004. (Round your answers to two decimal places.)
2005 total liabilities-to-stockholders' equity = Answer
2004 total liabilities-to-stockholders' equity = Answer

2005 total debt-to-equity = Answer
2004 total debt-to-equity = Answer

Which of the following best describes the company's total liabilities-to-equity ratios and total debt-to-equity ratios for 2005 and 2004?

The total liabilities-to-equity ratio has decreased while the total debt-to-equity ratio has increased in the period from 2004 to 2005, which suggests the company has decreased the use of short-term debt financing.

The total liabilities-to-equity ratio has increased while the total debt-to-equity ratio has decreased in the period from 2004 to 2005, which suggests the company has increased the use of short-term debt financing.

Both the total liabilities-to-equity and total debt-to-equity ratios have increased from 2004 to 2005. These increases suggest that the company is less solvent.

Both the total liabilities-to-equity and total debt-to-equity ratios have decreased from 2004 to 2005. The difference between these two measures reveals that any solvency concerns would be for the short run.



(c) Compute times interest earned ratio, cash from operations to total debt ratio, and free operating cash flow to total debt ratios. (Round your answers to two decimal places.)
2005 times interest earned = Answer
2004 times interest earned = Answer

2005 cash from operations to total debt = Answer
2004 cash from operations to total debt = Answer

2005 free operating cash flow to total debt = Answer
2004 free operating cash flow to total debt = Answer

Which of the following describes the company's times interest earned, cash from operations to total debt, and free operating cash flow to total debt ratios for 2005 and 2004? (Select all that apply)
Answeryesno Lockheed Martin's free operating cash flow to total debt ratio increased slightly over the year 2005 due to increased cash flow from operations and decreased levels of debt.
Answeryesno Lockheed Martin's cash from operations to total debt ratio increased slightly over the year 2005 due to increased cash flow from operations and decreased levels of debt.
Answeryesno Lockheed Martin's times interest earned increased significantly during 2005, due to both an increase in profitability and a decrease in interest expense.
Answeryesno Lockheed Martin's times interest earned decreased significantly during 2005, due to both a decrease in profitability and an increase in interest expense.

(d) Summarize your findings in a conclusion about the company's credit risk. Do you have any concerns about the company's ability to meet its debt obligations?

Lockheed Martin's total debt-to-equity is very low, thus increasing any immediate solvency concerns. The company's ability to meet its debt requirements will depend on increasing short-term debt.

Lockheed Martin's quick ratio is very low, thus increasing immediate solvency concerns. The company's ability to meet its debt requirements will depend on liquidating inventories for emergency cash.

Lockheed Martin's times interest earned ratio is high, thus lessening any immediate solvency concerns. The company's ability to meet its debt requirements will depend on its continued profitability.

Lockheed Martin's total liabilities-to-equity is high, thus lessening any immediate solvency concerns. The company's ability to meet its debt requirements will depend on its use of equity financing.

In: Accounting

Compute and Interpret Liquidity, Solvency and Coverage Ratios Balance sheets and income statements for Lockheed Martin...

Compute and Interpret Liquidity, Solvency and Coverage Ratios
Balance sheets and income statements for Lockheed Martin Corporation follow. Refer to these financial statements to answer the requirements.

Income Statement
Year Ended December 31 (In millions) 2005 2004 2003
Net sales
Products $ 31,518 $ 30,202 $ 27,290
Service 5,695 5,324 4,534
37,213 35,526 31,824
Cost of sales
Products 28,800 27,879 25,306
Service 5,073 4,765 4,099
Unallocated coporate costs 803 914 443
34,676 33,558 29,848
2,537 1,968 1,976
Other income (expenses), net 449 121 43
Operating profit 2,986 2,089 2,019
Interest expense 370 425 487
Earnings before taxes 2,616 1,664 1,532
Income tax expense 791 398 479
Net earnings $ 1,825 $ 1,266 $ 1,053
Balance Sheet
December 31 (In millions) 2005 2004
Assets
Cash and cash equivalents $ 2,244 $ 1,060
Short-term investments 429 396
Receivables 4,579 4,094
Inventories 1,921 1,864
Deferred income taxes 861 982
Other current assets 495 557
Total current assets 10,529 8,953
Property, plant and equipment, net 3,924 3,599
Investments in equity securities 196 812
Goodwill 8,447 7,892
Purchased intangibles, net 560 672
Prepaid pension asset 1,360 1,030
Other assets 2,728 2,596
Total assets $ 27,744 $ 25,554
Liabilities and stockholders' equity
Accounts payable $ 1,998 $ 1,726
Customer advances and amounts in excess of costs incurred 4,331 4,028
Salaries, benefits and payroll taxes 1,475 1,346
Current maturities of long-term debt 202 15
Other current liabilities 1,422 1,451
Total current liabilities 9,428 8,566
Long-term debt 4,784 5,104
Accrued pension liabilities 2,097 1,660
Other postretirement benefit liabilities 1,277 1,236
Other liabilities 2,291 1,967
Stockholders' equity
Common stock, $1 par value per share 432 438
Additional paid-in capital 1,724 2,223
Retained earnings 7,278 5,915
Accumulated other comprehensive loss (1,553) (1,532)
Other (14) (23)
Total stockholders' equity 7,867 7,021
Total liabilities and stockholders' equity $ 27,744 $ 25,554
Consolidated Statement of Cash Flows
Year Ended December 31 (In millions) 2005 2004 2003
Operating Activities
Net earnings $ 1,825 $ 1,266 $ 1,053
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization 555 511 480
Amortization of purchased intangibles 150 145 129
Deferred federal income taxes 24 (58) 467
Changes in operating assets and liabilities:
Receivables (390) (87) (258)
Inventories (39) 519 (94)
Accounts payable 239 288 330
Customer advances and amounts in excess of costs incurred 296 (228) (285)
Other 534 568 (13)
Net cash provided by operating activities 3,194 2,924 1,809
Investing Activities
Expenditures for property, plant and equipment (865) (769) (687)
Acquisition of business/investments in affiliated companies (564) (91) (821)
Proceeds from divestiture of businesses/Investments in affiliated companies 935 279 234
Purchase of short-term investments, net (33) (156) (240)
Other 28 29 53
Net cash used for investing activities (499) (708) (1,461)
Financing Activities
repayment of long-term debt (133) (1,089) (2,202)
Issuances of long-term debt -- -- 1,000
Long-term debt repayment and issuance costs (12) (163) (175)
Issuances of common stock 406 164 44
Repurchases of common stock (1,310) (673) (482)
Common stock dividends (462) (405) (261)
Net cash used for financing activities (1,511) (2,166) (2,076)
Net increase (decrease) in cash and cash equivalents 1,184 50 (1,728)
Cash and cash equivalents at beginning of year 1,060 1,010 2,738
Cash and cash equivalents at end of year $ 2,244 $ 1,060 $ 1,010


(a) Compute Lockheed Martin's current ratio and quick ratio for 2005 and 2004. (Round your answers to two decimal places.)
2005 current ratio = Answer


2004 current ratio = Answer



2005 quick ratio = Answer


2004 quick ratio = Answer



Which of the following best describes the company's current ratio and quick ratio for 2005 and 2004?

The current ratio has increased while the quick ratio has decreased in the period from 2004 to 2005, which suggests the company has a shortage of liquid assets.

Both the current and quick ratios have decreased from 2004 to 2005. The company is fairly illiquid.

Both the current and quick ratios have increased from 2004 to 2005. The company is fairly liquid.

The current ratio has decreased while the quick ratio has increased in the period from 2004 to 2005, which suggests the company has a shortage of current assets.



(b) Compute total liabilities-to-equity ratios and total debt-to-equity ratios for 2005 and 2004. (Round your answers to two decimal places.)
2005 total liabilities-to-stockholders' equity = Answer


2004 total liabilities-to-stockholders' equity = Answer



2005 total debt-to-equity = Answer


2004 total debt-to-equity = Answer



Which of the following best describes the company's total liabilities-to-equity ratios and total debt-to-equity ratios for 2005 and 2004?

The total liabilities-to-equity ratio has decreased while the total debt-to-equity ratio has increased in the period from 2004 to 2005, which suggests the company has decreased the use of short-term debt financing.

The total liabilities-to-equity ratio has increased while the total debt-to-equity ratio has decreased in the period from 2004 to 2005, which suggests the company has increased the use of short-term debt financing.

Both the total liabilities-to-equity and total debt-to-equity ratios have increased from 2004 to 2005. These increases suggest that the company is less solvent.

Both the total liabilities-to-equity and total debt-to-equity ratios have decreased from 2004 to 2005. The difference between these two measures reveals that any solvency concerns would be for the short run.



(c) Compute times interest earned ratio, cash from operations to total debt ratio, and free operating cash flow to total debt ratios. (Round your answers to two decimal places.)
2005 times interest earned = Answer


2004 times interest earned = Answer



2005 cash from operations to total debt = Answer


2004 cash from operations to total debt = Answer



2005 free operating cash flow to total debt = Answer


2004 free operating cash flow to total debt = Answer



Which of the following describes the company's times interest earned, cash from operations to total debt, and free operating cash flow to total debt ratios for 2005 and 2004? (Select all that apply)
Answeryesno

Lockheed Martin's free operating cash flow to total debt ratio increased slightly over the year 2005 due to increased cash flow from operations and decreased levels of debt.
Answeryesno

Lockheed Martin's times interest earned decreased significantly during 2005, due to both a decrease in profitability and an increase in interest expense.
Answeryesno

Lockheed Martin's cash from operations to total debt ratio increased slightly over the year 2005 due to increased cash flow from operations and decreased levels of debt.
Answeryesno

Lockheed Martin's times interest earned increased significantly during 2005, due to both an increase in profitability and a decrease in interest expense.

(d) Summarize your findings in a conclusion about the company's credit risk. Do you have any concerns about the company's ability to meet its debt obligations?

Lockheed Martin's total debt-to-equity is very low, thus increasing any immediate solvency concerns. The company's ability to meet its debt requirements will depend on increasing short-term debt.

Lockheed Martin's quick ratio is very low, thus increasing immediate solvency concerns. The company's ability to meet its debt requirements will depend on liquidating inventories for emergency cash.

Lockheed Martin's times interest earned ratio is high, thus lessening any immediate solvency concerns. The company's ability to meet its debt requirements will depend on its continued profitability.

Lockheed Martin's total liabilities-to-equity is high, thus lessening any immediate solvency concerns. The company's ability to meet its debt requirements will depend on its use of equity financing.

In: Finance

Apple’s Worldwide Revenues from 2004 to 2019 is as follows: Year Worldwide Revenue in Billions 2004...

  1. Apple’s Worldwide Revenues from 2004 to 2019 is as follows:

Year

Worldwide Revenue in Billions

2004

8.2

2005

13.9

2006

19.3

2007

24.6

2008

37.5

2009

42.9

2010

65.2

2011

108.2

2012

156.5

2013

170.9

2014

182.8

2015

233.72

2016

215.64

2017

229.23

2018

265.6

2019

260.17

  1. Enter the data above into the tab labeled Apple. Graph the data in Excel and use your graph to determine what kind of time series pattern exist. Put your answer in your spreadsheet.
  2. Make the following forecasts for 2020. For all of them, use Mean Squared Error to determine which of the forecasts is the best. Make sure your answers are clearly labeled.
    1. Naïve forecast from one prior time period
    2. Calculate a 4-period moving average
    3. Calculate a 3-period moving average with the following weights for time t: time period t-1=0.8, t-2 = 0.15, t-3=.05
  3. In the tab called Apple Smoothing, use the data from 3. to forecast 2020 using an alpha equal to 0.7, 0.8, and 0.9. Using MSE, which one offers the best estimate for 2020?
  4. In the tab called Apple Regression, use the information from 3. and run a regression to determine your forecast for 2020
    1. Put your regression output in F1 of the same workbook.
    2. Calculate what your forecast is for 2020 in F21.
    3. How does well does this regression equation predict revenue? Write your answer in F22. In addition, explain what your numerical answer means in words.

PLEASE PROVIDE STEP BY STEP AND FORMULAS FOR EXCEL, THANK YOU

In: Statistics and Probability