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1、公司理财A作业1CorporateFinanceAAssignment1Pleasefinishtheassignmentindependentlyandhanditinonnextlecture.1.TextbookP59QUESTIONS1BalanceSheet2.QUESTION2TaxRates3.QUESTION6IncomeStatement1.BalanceSheetofSophie’sSofasAssetsLiabilities&Shareholders’EquityCash$10,000Accountspayable$17,000Accountsreceivab
2、le22,000Long-termdebt170,000Inventory200,000Shareholders’equity145,000Store&property100,000Totalassets$332,000Totalliabilities&Shareholders’equity$332,0002.a.Taxes=(0.10´$8,500)+0.15´($20,000-$8,500)=$2,575Averagetaxrate=$2,575/$20,000=0.12875=12.88%Marginaltaxrate=15%b.Taxes=(0.10´$8,500)+0.1
3、5´($34,500-$8,500)+0.25´($50,000-$34,500)=$8,625Averagetaxrate=$8,625/$50,000=0.1725=17.25%Marginaltaxrate=25%b.Taxes=(0.10´$8,500)+0.15´($34,500-$8,500)+0.25´($83,600-$34,500)+0.28´($174,400-$83,600)+0.33´($300,000-$174,400)=$83,897Averagetaxrate=$83,897/$300,000=0.279657=27.97%Marginaltaxrat
4、e=33%c.Taxes=(0.10´$8,500)+0.15´($34,500-$8,500)+0.25´($83,600-$34,500)+0.28´($174,400-$83,600)+0.33´($379,150-$174,400)+0.35´($3,000,000–$379,150)=$1,027,314Averagetaxrate=$1,027,314/$3,000,000=0.342438=34.24%Marginaltaxrate=35%6.Sales$10,000Costofgoodssold6,500General&administrativeexpenses1
5、,000Depreciationexpense1,000EBIT1,500Interestexpense500Taxableincome1,000Taxes(35%)350Netincome$650Cashflowfromoperations=netincome+depreciationexpense=$1,650
