Keller FIN 515 Homework 2 Answer (2018)
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Keller FIN 515 Homework 2 Answer (2018)
Chapter 3
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(3-1) DSO
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Greene Sisters has a DSO of 20 days. The company’s average daily sales are $20,000. What is the level of its accounts receivable? Assume there are 365 days in a year.
(3-2) Debt Ratio
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Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in long-term debt. What is the debt ratio?
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(3-3) Market/Book Ratio
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Winston Watch’s stock price is $75 per share. Winston has $10 billion in total assets. Its balance sheet shows $1 billion in current liabilities, $3 billion in long-term debt, and $6 billion in common equity. It has 800 million shares of common stockoutstanding. What is Winston’s market/book ratio?
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(3-4) Price/Earnings Ratio
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Reno Revolvers has an EPS of $1.50, a cash flow per share of $3.00, and a price/cash flow ratio of 8.0. What is its P/E ratio?
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(3-5) ROE
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Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.0. Its sales are $100 million and it has total assets of $50 million. What is its ROE?
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(3-6) DuPont Analysis
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Gardial & Son has an ROA of 12%, a 5% profit margin, and a return on equity equal to 20%. What is the company’s total assets turnover? What is the firm’s equity multiplier?
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(3-7) Current and Quick Ratios
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Ace Industries has current assets equal to $3 million. The company’s current ratio is 1.5, and its quick ratio is 1.0. What is the firm’s level of current liabilities? What is the firm’s level of inventories?
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Chapter 4
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(4-1). Future Value of a Single Payment
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If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your account after 5 years?
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(4-2). Present Value of a Single Payment
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What is the present value of a security that will pay $5,000 in 20 years if securities of equal risk pay 7% annually?
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(4-6). Future Value: Ordinary Annuity versus Annuity Due
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What is the future value of a 7%, 5-year ordinary annuity that pays $300 each year? If this were an annuity due, what would its future value be?
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(4-13). Present Value of an Annuity
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Find the present value of the following ordinary annuities (see the Notes to Problem 4-12).
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(4-14). Uneven Cash Flow Stream
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Find the present values of the following cash flow streams. The appropriate interest rate is 8%.
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