Maurice Tutor

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

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 30 Jul 2017 My Price 9.00

Bailey Corporation’

FREE CASH FLOW Bailey Corporation’s financial statements (dollars and shares are in millions) are provided here.

 

 

 

 

 

 

 

Balance Sheets as of December 31                                                         2008     2007

 

 

Assets

Cash and equivalents

 

$  14,000

 

 

$  13,000

Accounts receivable

30,000

 

25,000

Inventories

    28,125

 

     21,000

Total current assets

$  72,125

 

$  59,000

Net plant and equipment

    50,000

 

     47,000

Total assets

$122,125

 

$106,000

 

Liabilities and Equity

 

 

 

Accounts payable

$  10,800

 

$    9,000

Notes payable

6,700

 

5,150

Accruals

    7,600

 

     6,000

Total current liabilities

$  25,100

 

$  20,150

Long-term bonds

    15,000

 

     15,000

Total debt

$  40,100

 

$  35,150

Common stock (5,000 shares)

50,000

 

50,000

Retained earnings

    32,025

 

     20,850

Common equity

$  82,025

 

$  70,850

Total liabilities and equity

$122,125

 

$106,000

Income Statement for Year Ending December 31, 2008

 

Sales

$214,000

Operating costs excluding depreciation and amortization

  170,000

EBITDA

$  44,000

Depreciation & amortization

     5,000

EBIT

$  39,000

Interest

     1,750

EBT

$  37,250

Taxes (40%)

     14,900

Net income

$  22,350

Dividends paid

$  11,175

 

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

b.       What was Bailey’s 2008 free cash flow?

c.        Construct Bailey’s 2008 statement of stockholders’ equity.

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Jul 2017 04:07 PM My Price 9.00

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