Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
10th Edition
ISBN: 9781337902571
Author: Eugene F. Brigham, Joel F. Houston
Publisher: Cengage Learning
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Question
Based on the following information, how much capital expenditures did FIN3300F24 incur in 2023?
FIN3300F24
|
As of 12/31/23 |
As of 12/31/22 |
|
|
Cash |
$19,000 |
$54,000 |
|
A/R |
96,000 |
75,000 |
|
Inventories |
273,000 |
174,000 |
|
Total CA |
$388,000 |
$303,000 |
|
Gross FA |
750,000 |
540,000 |
|
Less: accumulated |
238,000 |
168,000 |
|
Net FA |
$512,000 |
$372,000 |
|
Total Assets |
$900,000 |
$675,000 |
|
Accounts payable |
$108,000 |
$51,000 |
|
Accruals |
27,000 |
12,000 |
|
Notes payable |
273,000 |
102,000 |
|
Total CL |
$408,000 |
$165,000 |
|
Long-term debt |
137,700 |
172,500 |
|
Common stock |
189,000 |
189,000 |
|
|
165,300 |
148,500 |
|
Total L & E |
$900,000 |
$675,000 |
FIN3300F24 Income Statement
|
2023 |
|
|
Sales |
$960,000 |
|
Cost of goods sold |
576,000 |
|
Gross profit |
$384,000 |
|
Operating expenses excluding depreciation |
$222,000 |
|
Depreciation |
70,000 |
|
Total operating expenses |
$292,000 |
|
EBIT |
$92,000 |
|
Interest expense |
36,600 |
|
Earnings before taxes |
$55,400 |
|
Taxes (21%) |
11,634 |
|
Net income |
$43,766 |
$70,000
$183,766
$140,000
$210,000
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