Show all of your work for numerical problems. 1. Based on the following information for ABC Corporation, answer each question (calculate for year 2023). Assume that price per share is $13.33 and number of shares is 175. 2022 Sales Cost of goods sold/Expenses Depreciation b. EBIT Interest Taxable Income Taxes Net Income Dividends Cash Inventory Account Receivable Current assets Net fixed assets Current liabilities Long-term debt Common stock Retained Earning 1,000 1,400 1,600 4,000 9,000 3,500 4,000 3,000 2,500 2023 8,000 4,900 600 ? 450 ? ? ? 1,370 1,200 1,600 1,800 4,600 9,200 3,700 4,300 3,050 2,750 a. What are the ABC's tax liabilities (tax payments)? Use a 21 percent (flat) tax rate. Calculate cash flow from assets (CF Generating), cash flow to creditors, and cash flow to stockholders. Check CF identity

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 6CP: The average liabilities, average stockholders' equity, and average total assets are as follows: 1....
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Show all of your work for numerical problems.
1. Based on the following information for ABC Corporation, answer each question (calculate for year
2023). Assume that price per share is $13.33 and number of shares is 175.
Sales
Cost of goods sold/Expenses
Depreciation
b.
EBIT
Interest
Taxable Income
Taxes
Net Income
Dividends
Cash
Inventory
Account Receivable
Current assets
Net fixed assets
Current liabilities
Long-term debt
Common stock
Retained Earning
2022
1,000
1,400
1,600
4,000
9,000
3,500
4,000
3,000
2,500
2023
8,000
4,900
600
?
450
?
?
?
1,370
1,200
1,600
1,800
4,600
9,200
3,700
4,300
3,050
2,750
a. What are the ABC's tax liabilities (tax payments)? Use a 21 percent (flat) tax rate.
Calculate cash flow from assets (CF Generating), cash flow to creditors, and cash flow to
stockholders. Check CF identity
Transcribed Image Text:Show all of your work for numerical problems. 1. Based on the following information for ABC Corporation, answer each question (calculate for year 2023). Assume that price per share is $13.33 and number of shares is 175. Sales Cost of goods sold/Expenses Depreciation b. EBIT Interest Taxable Income Taxes Net Income Dividends Cash Inventory Account Receivable Current assets Net fixed assets Current liabilities Long-term debt Common stock Retained Earning 2022 1,000 1,400 1,600 4,000 9,000 3,500 4,000 3,000 2,500 2023 8,000 4,900 600 ? 450 ? ? ? 1,370 1,200 1,600 1,800 4,600 9,200 3,700 4,300 3,050 2,750 a. What are the ABC's tax liabilities (tax payments)? Use a 21 percent (flat) tax rate. Calculate cash flow from assets (CF Generating), cash flow to creditors, and cash flow to stockholders. Check CF identity
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