Class book:  Fundamentals of Corporate Finance by Brealey, Myers, and Marcus Income versus Cash Flow. Butterfly Tractos had $14 million in sales last year. Cost of goods sold was $8 million, depreciation expense was $2 million, interest payment on outstanding debt was $1 million, and the firm's tax rate was 21%.  a. what was the firm's net income? b. What was the firm's cash flow? c. what would happen to net income and cash flow if depreciation were increased by $1 million? d. would you expect the change in depreciation to have a positive or negative impact on the firm's stock price? e. what would be the impact on net income if depreciation was $1 million and interest expense was $2 million? f. what would be the impact on cash flow if depreciation was $1 million and interest expense was $2 million?

Use the information below to build a properly formatted income statement. A: The firm has 25,280,000 shares outstanding and its earnings per share is $2.40. Calculate Net Income. B: The firm's corporate tax rate is 40%. Calculate the firm's EBT. C: After completing A and B above, what is the firm's corporate tax expense? D: The firm's operating income is 1.80 times its Net Income. Determine the firm's EBIT. E: Given your answer to D, calculate the firm's Interest Expense. F: After completing the above: Gross Profit is 18.00 times its Interest Expense. Calculate Gross Profit. G: Finally, the firm's Revenue is 1.50 times its EBIT. Calculate the firm's Revenue. INSTRUCTIONS: Write ratios involving dollar amounts out to the penny, with no dollar sign: 1000.00. All ratios and interest rates should be calculated as follows: 11.28 (no percent sign) For this problem: Net Income = Earnings before Taxes = Тах еxpens 3 Earnings before Taxes & Interest = Interest expense = Gross profit = Revenue =

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Use the information below to build a properly formatted income statement. A: The firm has 12,640,500 shares outstanding and EPS is $3.20.Calculate  Net Income . B: The firm's corporate tax rate is 40%. Calculate the firm's EBT. C: After completing A and B above, what is the firm's corporate tax expense? D: The firm's  Revenue  is $183,600,000 and its operating margin is 45.00%. Calculate EBIT. E: After completing the above: Gross Profit  is 1.65 times its  EBIT . Calculate Gross Profit . F: Given the above information, calculate the firm's  Operating Expenses . G: Given the above information, calculate the firm's  Interest Expense .

a. Last year Harrington Inc. had sales of $654,000 and a net income of $89,000, and its year-end assets were $270,000. The firm's total-debt-to-total-capital ratio was 45.0%. The firm finances using only debt and common equity and its total assets equal total invested capital. Based on the DuPont equation, what was the ROE?

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