公司理财被删除课后题第2章.pdf

ros3059X_ch02.qxd 12/27/05 05:15 PM Page 37 /rwj 9. Cash Flow to Stockholders and Creditors Could a company’s cash flow to stockholders be negative in a given year? (Hint: Yes.) Explain how this might come about. What about cash flow to creditors? 10. Firm Values Referring back to the Viacom example used at the beginning of the chapter, note that we suggested that Viacom’s stockholders probably didn’t suffer as a result of the reported loss. What do you think was the basis for our conclusion? Q U E S T I O N S A N D P R O B L E M S 1. Building a Balance Sheet Culligan, Inc., has current assets of $5,000, net fixed assets of $23,000, current liabilities of $4,300, and long-term debt of $13,000. What is the value of the shareholders’ equity account for this firm? How much is net working capital? 2. Building an Income Statement Ragsdale, Inc., has sales of $527,000, costs of $280,000, depre- Basic ciation expense of $38,000, interest expense of $15,000, and a tax rate of 35 percent. What is the (Questions 1–10) net income for the firm? Suppose the company paid out $48,000 in cash dividends. What is the addition to retained earnings? 3. Market Values and Book Values Klingon Cruisers, Inc., purchased new cloaking machinery three years ago for $7 million. The machinery can be sold to the Romulans today for $3.2 million.