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Hillman Corporation reported current assets of $3,500,000 for the year ending December 31, 2016 and current

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Hillman Corporation reported current assets of $3,500,000 for the year ending December 31, 2016 and current

assets of $3,000,000 for the year ending December 31, 2015.  Current liabilities for the firm were $2,500,000 and $2,750,000 at the end of 2016 and 2015, respectively.  Compute the cash flows to working capital (CFNWC) at Hillman Corporation during 2016 (ENTER AS A POSITIVE NUMBER).

5 points   QUESTION 17

  1. Nimitz Rental Company provided the following information to its auditors. For the year ended March 31, 2016, the company had revenues of $875,000, general and administrative expenses of $350,000, depreciation expenses of $130,500, other expenses of $119,500, and interest expenses equal to $75,000. If the company’s tax rate was 35 percent, what is its net income after taxes?

5 points   QUESTION 18

  1. Columbia Construction Company earned $450,000 during the year ended June 30, 2016.  After paying out $225,000 in dividends, the balance went into retained earnings.  If the firm’s total retained earnings were $845,000, what was the retained earnings on its balance sheet at the beginning of the year?

5 points   QUESTION 19

  1. Tim Dye, the CFO of Blackwell Automotive, Inc., is putting together this year’s financial statements. He has gathered the following information. The firm had a cash balance of $23,500, accounts payable of $160,000, common stock of $310,000, retained earnings of $550,500, inventory of $215,000, other assets equal to $75,000, net plant and equipment of $755,000, and short-term notes payable of $20,000. It also has accounts receivables of $145,250 and other current assets of $10,000. How much long-term debt does Blackwell Automotive have?

5 points   QUESTION 20

  1. Suppose you start your own corporation when you are 25 years old and you work there until you retire 40 years later.  How many years’ worth of your profits are taken by the US Government if the federal corporate income tax rate is 30 percent?
 
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