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has 17,500 shares of stock outstanding along with $408,000 of interest-bearing debt. The market and book values of the debt are

Naddik [55]

Answer:

$926,073

Explanation:

Enterprise value=market capitalization+value of debt-cash

value of the firm=price-earnings ratio=11.8

earnings=net income

net income=profit margin*sales

net income=$697,000*6.8%=$47,396

11.8=market capitalization/$47,396

market capitalzation=11.8*$47,396=$559,272.80

enterprise value=$559,272.80+$408,000-$41,200=$ 926,072.80 (approx $926,073)

6 0

3 years ago

enry lives in Mississippi, which has a sales tax of 7%. He just bought a bed whose full price was $1600, but he got 30% off, bec

aliina [53]

I wish Enry would have looked at the tag on the bed. In most places full price means including the sales tax. However I don't think you mean that. I think that was your before tax amount.
So take 30% off the original price.

There are two ways you can do that. You can take 30% of 1600 and subtract that. We'll do that now.
1600 * 30/100 = 480 dollars. Now take that off 1600
1600 - 480 = 1120

Or you can take 70% of 1600 which should give you 1120 right away.
1600 * 70/100 = 1120

Now you can add on the sales tax and again, there are two ways to do it, but I'm only going to do it one way. The quick way to add on a sales tax (or any tax) is add the % as a fraction on to 1. 1 + 7/100 = 1 + 0.07 = 1.07

1120 * 1.07 = $1198.40

You could do this the other way. 7/100 * 1120 = 78.40.
1120 + 78.40 = 1198.40

6 0

4 years ago

DRK, Inc., has just sold 100,000 shares in an initial public offering. The underwriter’s explicit fees were $60,000. The offerin

MAVERICK [17]

Answer:

$460,000

Explanation:

Data provided in the question

Number of shares sold = 100,000 shares

Explicit fees = $60,000

Offering price = $40

And, the increased share price = $44

Now the total cost of the equity issue is

= Number of shares sold × offering price per share + underwriter explicit fees

= 100,000 shares × $40 + $60,000

= $400,000 + $60,000

= $460,000

4 0

4 years ago

Talks-A-Lot, Inc. sells cell phones to customers and expects that 5% of phones sold will be returned for repair under its warran

ivann1987 [24]

Answer:

Warranty liability $2,128

Explanation:

680 phones sold x 5% x $76 per repaired phone = $2,584 total warranty liability

6 phones were repaired during the year x $76 = $456

remaining warranty liability = total estimated liability - money spent repairing phones during the year = $2,584 - $456 = $2,128

total outstanding warranty liability = $2,128

Since phone warranties last less than a year, the full amount should be recorded under current liabilities.

5 0

4 years ago

Bramble Corp. purchased land as a factory site for $1305000. Bramble paid $121000 to tear down two buildings on the land. Salvag

AURORKA [14]

Answer:

Part 1

$1,422,940

Part 2

$331,480

Explanation:

cost of the land calculation

Purchase Price $1305000

Cost to tear down building $121000

Sale of Salvages ($8400)

Leagl fees $5340

Total $1,422,940

The cost of the land that should be recorded by Wilson Co. is: $1,422,940

cost of the building calculation

Architect's fees $47000

Insurance $3900

Liability insurance $4200

Excavation cost $15480

city for pavement $9900

Borrowing Costs $251000

Total $331,480

The cost of the building should be recorded by Wilson Co. is $331,480

4 0

3 years ago