Posted by Lisa on Wednesday, November 3, 2010 at 11:44am.
Attached is the actual Financial Statements, Cash Flow, and Taxes associated with the assignment questions below. 2007 & 2008 statements below.
We are working on a comprehensive/spreadsheet problem (financial statements, cash flow and taxes). A balance sheet for a company called Laiho Industries.
a. Sales for 2008 were $455,150,000 and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 11% of net fixed assets, interest was $8,575,000, the corporate tax rate was 40% of its net income in dividends. Given this information , construct the firm's 2008 income statement.
b. Construct the statement of stockholder's equity for the year ending December 31, 2008, and the 2008 statement of cash flow
c. Calculate 2007 and 2008 net working capital and 2008 free cash flow.
d. If Laiho increased its dividend payout ratio, what effect would this have on corporate taxes paid? What effect would this have on taxes paid by the company's shareholders?
Cash $102, 850
Accounts receivable 103, 365
Inventories 38, 444
Total current assets $244,659
Net fixed assets 67, 165
Total Assets $311,824
Accounts payable $30, 761
Accruals 30, 477
Notes Payable 16,717
Total current liabilities $77, 955
Long – term debit $76,264
Total liabilities $154,219
Common stock $100,000
Retained earnings $57,605
Total common equity $157, 605
Total liabilities and equity $311,824
Accounts receivable 85527
Total current assets $210,234
Net fixed assets 42436
Total Assets $252,670
Accounts payable 23109
Notes Payable 14,217
Total current liabilities 59982
Long – term debit $63,914
Total liabilities $123,896
Common stock $90,000
Retained earnings $38,774
Total common equity 128774
Total liabilities and equity $252,670
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