Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 16 Aug 2017 My Price 13.00

Powell Panther Corporation

3-10      FREE CASH FLOW Financial information for Powell Panther Corporation is shown here.

 

Powell Panther Corporation: Income Statements For Year Ending December 31 (Millions of Dollars)

2008                  2007

Sales                                                                              $1,200.0             $1,000.0

Operating costs excluding depreciation and amortization         1,020.0              850.0 EBITDA                                                                                     $   180.0            $   150.0

Depreciation & amortization                                                    30.0                   25.0

Earnings before interest and taxes                                        $   150.0            $   125.0

Interest                                                                                 21.7                   20.2

Earnings before taxes                                                         $   128.3            $   104.8

Taxes (40%)                                                                           51.3                   41.9

Net income                                                                      $     77.0            $     62.9

                                                      

 

Common dividends                                                           $     60.5            $     46.4

                                                      

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                                                                                                                        

Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars)

 

 

Assets

 

2008                        2007

 

Cash and equivalents                                                    $  12.0                     $  10.0

Accounts receivable                                                        180.0                       150.0

Inventories                                                                  180.0                       200.0

Total current assets                                                    $372.0                      $360.0

Net plant and equipment                                               300.0                       250.0

Total assets                                                                  $672.0                     $610.0

                                                                                       

 

Liabilities and Equity

Accounts payable                                                         $108.0                     $  90.0

Notes payable                                                                 67.0                         51.5

Accruals                                                                      72.0                         60.0

Total current liabilities                                                $247.0                     $201.5

Long-term bonds                                                         150.0                       150.0

Total debt                                                                $397.0                     $351.5

Common stock (50 million shares)                                     50.0                         50.0

Retained earnings                                                         225.0                       208.5

Common equity                                                        $275.0                     $258.5

                                                                                       

Total liabilities and equity                                              $672.0                     $610.0

a.        What was net working capital for 2007 and 2008?

b.       What was the 2008 free cash flow?

c.        How would you explain the large increase in 2008 dividends?

Answers

Maurice Tutor
(5)
Status NEW Posted 16 Aug 2017 08:08 PM My Price 13.00

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