Question 1
Lindley Corp. is considering a new product that will require an investment of $10 million now, at t = 0. If the new product is well received, then the project will produce after-tax cash flows of $5 million at the end of each of the next 3 years (t = 1, 2, 3), but if the market does not like the product, the cash flows will be only $2 million per year. There is a 50% probability that the market will be good. The firm could delay the project for a year while it conducts a test to determine if demand is likely to be strong or weak. The project's cost and expected annual cash flows will be the same whether the project is delayed or not. The project's WACC is 10.0%. What is the value (in thousands) of the project after considering the investment timing option?,This is also the way I worked the problem and got the same result but the answer is not any of the options for my assignment! HERE ARE THE OPTIONS: a. $1,311 b. $1,457 c. $1,619 d. $1,799 e. $1,999,I would prefer no later than 3PM today August 19th! It's not due until midnight but this is the only question on my assignment that I am struggling with so please answer as quickly as possible! Thanx for your time!,My problem...this is not the correct problem I replied to. You have ansered this question correctly but I am having a hard time with a different problem worked by a tutor! Thank you for your speed and accuracy!
Question 2
Hello, I need a full answer for this case: Julia, CGA, is an audit partner with the CGA firm of Cristi & Jones LLP, based in Toronto. Julia and her audit team recently completed the audit of Falcon Limited (Falcon) and planned to issue an unmodified opinion on the financial statements. The issuance of the opinion would occur in two weeks, after the board of directors approves the financial statements. Prior to the issuance of the Falcon report, Julia and the same audit team began the audit of Eagle Limited (Eagle). During the fiscal year, Eagle sold a significant amount of property to Falcon. Eagle and Falcon are non-related parties and deal at arm?s length. During the audit of Falcon, Julia?s team verified the selling price of the property by reviewing the purchase and sale agreement and vouching the payment to the cancelled cheque. Subsequently, while performing the Eagle audit work, the auditors discovered that Eagle had dealt with Falcon unfairly by selling them property that was significantly overpriced. Required What are the moral/ethical issues, if any? What should Julia do? Use the relevant steps from the nine-step case analysis approach you studied in Topic 2.5. (You can also find the case analysis approach in ?Analyze a case? under the Resources tab.) Organize your answer using the headings indicated below. Marks will be allocated as follows: Identify problems and issues 2 marks Generate alternatives 2 marks Select the decision criteria 1 mark Analyze and evaluate the alternatives 6 marks Recommend an action for Julia (explain your reasoning) 1 mark
Question 3
1. Which of the following is not a profitability ratio? (Points: 4) Payout ratio Profit margin Times interest earned Return on common stockholders' equity 2. The ratio that uses weighted average common shares outstanding in the denominator is the (Points: 4) price-earnings ratio. return on common stockholders' equity. earnings per share. payout ratio. 3. The disposal of a significant segment of a business is called (Points: 4) a change in accounting principle. an extraordinary item. an other expense. discontinued operations. 4. Waters Department Store had net credit sales of $12,000,000 and cost of goods sold of $9,000,000 for the year. The average inventory for the year amounted to $2,000,000. Inventory turnover for the year is (Points: 4) 6 times. 10.5 times. 4.5 times. 3 times. 5. Inventory turnover is calculated by dividing (Points: 4) cost of goods sold by the ending inventory. cost of goods sold by the beginning inventory. cost of goods sold by the average inventory. average inventory by cost of goods sold. 6. Which of the following is not a profitability ratio? (Points: 4) Payout ratio Profit margin Times interest earned Return on common stockholders' equity 7. The order of presentation of nontypical items that may appear on the income statement is (Points: 4) Extraordinary items, Discontinued operations, Other revenues and expenses. Discontinued operations, Extraordinary items, Other revenues and expenses. Other revenues and expenses, Discontinued operations, Extraordinary items. Other revenues and expenses, Extraordinary items, Discontinued operations. 8. Profit margin is calculated by dividing (Points: 4) sales by cost of goods sold. gross profit by net sales. net income by stockholders' equity. net income by net sales. 9. The ratio that uses weighted average common shares outstanding in the denominator is the (Points: 4) price-earnings ratio. return on common stockholders' equity. earnings per share. payout ratio. 10. The statement of cash flows (Points: 4) must be prepared on a daily basis. summarizes the operating, financing, and investing activities of an entity. is another name for the income statement. is a special section of the income statement. 11. For the following transaction, indicate where, if at all, it would be classified on the statement of cash flows. Assume the indirect method is used. Decrease in income taxes payable. (Points: 4) Operating activities section Investing activities section Financing activities section Does not represent a cash flow 12. For the following transaction, indicate where, if at all, it would be classified on the statement of cash flows. Assume the indirect method is used. Purchased land for cash. (Points: 4) Operating activities section Investing activities section Financing activities section Does not represent a cash flow 13. Wilton Company reported net income of $40,000 for the year. During the year, accounts receivable decreased by $7,000, accounts payable increased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is (Points: 4) $30,000. $55,000. $39,000. $35,000. 14. Using the indirect method, patent amortization expense for the period (Points: 4) is deducted from net income. causes cash to increase. causes cash to decrease. is added to net income. 15. In developing the cash flows from operating activities, most companies in the U. S. (Points: 4) use the direct method. use the indirect method. present both the indirect and direct methods in their financial reports. prepare the operating activities section on the accrual basis. 16. Which of the following would be added to net income using the indirect method? (Points: 4) An increase in accounts receivable An increase in prepaid expenses Depreciation expense A decrease in accounts payable 17. Cola Co. manufactures a product with a standard direct labor cost of two hours at $24.00 per hour. During July, 2,000 units were produced using 4,200 hours at $24.40 per hour. The labor price variance was (Points: 4) $1,680 U. $6,480 U. $6,480 F. $4,800 U. 18. The direct labor quantity standard is sometimes called the direct labor (Points: 4) volume standard. effectiveness standard. efficiency standard. quality standard. 19. A standard which represents an efficient level of performance that is attainable under expected operating conditions is called a(n) (Points: 4) ideal standard. loose standard. tight standard. normal standard. 20. An unfavorable materials quantity variance would occur if (Points: 4) more materials were purchased than were used. actual pounds of materials used were less than the standard pounds allowed. actual labor hours used were greater than the standard labor hours allowed. actual pounds of materials used were greater than the standard pounds allowed. 21. The most rigorous of all standards is the (Points: 4) normal standard. realistic standard. ideal standard. conceivable standard. 22. A purchases budget is used instead of a production budget by (Points: 4) merchandising companies. service enterprises. not-for-profit organizations. manufacturing companies. 23. For a merchandiser, the starting point in the development of the master budget is the (Points: 4) cash budget. sales budget. selling and administrative expenses budget. budgeted income statement. 24. Stanbrough Company has the following budgeted sales: July $100,000, August $150,000, and September $125,000. 40% of the sales are for cash and 60% are on credit. For the credit sales, 50% are collected in the month of sale, and 50% the next month. The total expected cash receipts during September are (Points: 4) $140,000. $132,500. $131,250. $125,000. 25. The following credit sales are budgeted by Roswell Company: January $102,000 February 150,000 March 210,000 April 180,000 The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of April is (Points: 4) $185,160. $168,000. $180,000. $176,400. 26. The starting point in preparing a master budget is the preparation of the (Points: 4) production budget. sales budget. purchasing budget. personnel budget. 27. Which of the following would not appear as a fixed expense on a selling and admini-strative expense budget? (Points: 4) Freight-out Office salaries Property taxes Depreciation 28. Long-range planning usually encompasses a period of at least (Points: 4) six months. 1 year. 5 years. 10 years. 29. Long-range planning (Points: 4) generally presents more detailed information than an annual budget. generally encompasses a longer period of time than an annual budget. is usually more accurate than an annual budget. is prepared on a quarterly basis if the budget is prepared on a quarterly basis. 30. When will the elimination of a product line have no effect on the company's overall profit? (Points: 4) When the avoidable fixed costs equal the product line's contribution margin When the unavoidable fixed costs equal the product line's contribution margin When there are no fixed costs incurred by the product line When the product line contribution margin is negative 31. A product line should be eliminated whenever (Points: 4) the product line generates a net loss. the unavoidable fixed costs exceed the product line's contribution margin. the product line generates a negative contribution margin. the avoidable costs are less than the product line's contribution margin. 32. North Division has the following information: Sales $900,000 Variable expenses 480,000 Fixed expenses 465,000 If this division is eliminated, the fixed expenses will be allocated to the company's other divisions. What is the incremental effect on net income if the division is dropped? (Points: 4) $45,000 increase $465,000 decrease $420,000 decrease $435,000 increase 33. Products produced from a common production process and a single raw material are referred to as (Points: 4) separable products. joint products. common products. independent products. 34. Which one of the following is not a disadvantage of buying rather than making a component of a company's product? (Points: 4) Quality control specifications may not be met. The outside supplier could increase prices significantly in the future. Profitable product lines may be dropped. The supplier may not deliver on time. 35. Costs that will differ between alternatives and influence the outcome of a decision are (Points: 4) sunk costs. unavoidable costs. relevant costs. product costs. 36. Which of the following steps in the management decision-making process generally involves the managerial accountant? (Points: 4) Determine possible courses of action. Make the appropriate decision based on relevant data. Prepare internal reports that review the impact of decisions. Assign responsibility. 37. The margin of safety ratio (Points: 4) is computed as actual sales divided by break-even sales. indicates what percent decline in sales could be sustained before the company would operate at a loss. measures the ratio of fixed costs to variable costs. is used to determine the break-even point. 38. Small Fry Company has sales of $1,000,000, variable costs of $400,000, and fixed costs of $450,000. Small Fry's degree of operating leverage is (Points: 4) .80. 1.50. 1.67 4.00. 39. Reducing reliance on human workers and instead investing heavily in computers and online technology will (Points: 4) reduce fixed costs and increase variable costs. reduce variable costs and increase fixed costs. have no effect on the relative proportion of fixed and variable costs. make the company less susceptible to economic swings. 40. Dye Company can sell all the units it can produce of either Plain or Fancy but not both. Plain has a unit contribution margin of $96 and takes two machine hours to make and Fancy has a unit contribution margin of $120 and takes three machine hours to make. There are 2,400 machine hours available to manufacture a product. What should Dye do? (Points: 4) Make Fancy which creates $24 more profit per unit than Plain does. Make Plain which creates $8 more profit per machine hour than Fancy does. Make Plain because more units can be made and sold than Fancy. The same total profits exist regardless of which product is made. 41. In a sales mix situation, at any level of units sold, net income will be higher if (Points: 4) more higher contribution margin units are sold than lower contribution margin units. more lower contribution margin units are sold than higher contribution margin units. more fixed expenses are incurred. weighted-average unit contribution margin decreases. 42. The margin of safety ratio is (Points: 4) expected sales divided by break-even sales. expected sales less break-even sales. margin of safety in dollars divided by expected sales. margin of safety in dollars divided by break-even sales. 43. Margin of safety in dollars is (Points: 4) expected sales divided by break-even sales. expected sales less break-even sales. actual sales less expected sales. expected sales less actual sales. 44. The contribution margin ratio is (Points: 4) sales divided by contribution margin. sales divided by fixed expenses. sales divided by variable expenses. contribution margin divided by sales. 45. Buerhrle's CVP income statement included sales of 2,000 units, a selling price of $100, variable expenses of $60 per unit, and fixed expenses of $44,000. Net income is (Points: 4) $200,000. $80,000. $76,000. $36,000. 46. A CVP graph does not include a (Points: 4) variable cost line. fixed cost line. sales line. total cost line. 47. A company sells a product which has a unit sales price of $5, unit variable cost of $3 and total fixed costs of $120,000. The number of units the company must sell to break even is (Points: 4) 60,000 units. 24,000 units. 240,000 units. 40,000 units. 48. A company requires $1,020,000 in sales to meet its net income target. Its contribution margin is 30%, and fixed costs are $180,000. What is the target net income? (Points: 4) $306,000 $234,000 $420,000 $126,000 49. A CVP graph does not include a (Points: 4) variable cost line. fixed cost line. sales line. total cost line. 50. Internal reports are generally (Points: 4) aggregated. detailed. regulated. unreliable. 51. Manufacturing costs include (Points: 4) direct materials and direct labor only. direct materials and manufacturing overhead only. direct labor and manufacturing overhead only. direct materials, direct labor, and manufacturing overhead. 52. Which one of the following does not appear on the balance sheet of a manufacturing company? (Points: 4) Finished goods inventory Work in process inventory Cost of goods manufactured Raw materials inventory 53. Cost of goods manufactured is calculated as follows: (Points: 4) Beginning WIP + direct materials used + direct labor + manufacturing overhead + ending WIP. Direct materials used + direct labor + manufacturing overhead - beginning WIP + ending WIP. Beginning WIP + direct materials used + direct labor + manufacturing overhead - ending WIP. Direct materials used + direct labor + manufacturing overhead - ending WIP - beginning WIP. 54. The equivalent of finished goods inventory for a merchandising firm is referred to as (Points: 4) purchases. cost of goods purchased. merchandise inventory. raw materials inventory. 55. Product costs are also called (Points: 4) direct costs. overhead costs. inventoriable costs. capitalizable costs.
Question 4
1. A swap bank makes the following quotes for 5-year swaps and AAA-rated firms:? USD Bid - 5% Ask - 5.2% EURO Bid - 7% Ask- 7.2% A.The bank stands ready to pay $5.2% against receiving dollar LIBOR on 5-year loans. ?B. The bank stands ready to receive ?7% against receiving dollar LIBOR on 5-year loans. ?C. The bank stands ready to receive ?7% against receiving dollar LIBOR on 5-year loans.? D. None of the above 2. Company X wants to borrow $10,000,000 floating for 5 years; company Y wants to borrow $10,000,000 fixed for 5 years. Their external borrowing opportunities are shown below: COMPANY X Fixed- Rate Borrowing Cost - 10% Floating -Rate Borrowing Cost - LIBOR COMPANY Y Fixed- Rate Borrowing Cost - 12% Floating -Rate Borrowing Cost - LIBOR + 1.5% A swap bank proposes the following interest only swap: X will pay the swap bank annual payments on $10,000,000 with the coupon rate of LIBOR - 0.15%; in exchange the swap bank will pay to company X interest payments on $10,000,000 at a fixed rate of 9.90%. ??What is the value of this swap to company X? ??A. Company X will lose money on the deal. ?B. Company X will save 5 basis points per year on $10,000,000 = $25,000 per year.? C. Company X will only break even on the deal? D. Company X will save 25 basis points per year on $10,000,000 = $5,000 per year ?E. None of the above,Hello I really need both answers as soon as possible Thanks a lot Gabriela,Hello Rachel!!! Thanks a lot, but I also need the procedure of both questions Could you help me by sending me the procedures of how you get to the answers pleeeease :) Thanks Gaby
Question 5
Neptune Company produces toys and other items for use in beach and resort areas. A small, inflatable toy has come onto the market that the company is anxious to produce and sell. The new toy will sell for $3.20 per unit. Enough capacity exists in the company's plant to produce 30,800 units of the toy each month. Variable costs to manufacture and sell one unit would be $2.02, and fixed costs associated with the toy would total $54,016 per month. The company's Marketing Department predicts that demand for the new toy will exceed the 30,800 units that the company is able to produce. Additional manufacturing space can be rented from another company at a fixed cost of $2,701 per month. Variable costs in the rented facility would total $2.24 per unit, due to somewhat less efficient operations than in the main plant. Requirement 1: (a) Calculate the contribution margin per unit on anything over 30,800 units. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Contribution margin $ (b) Compute the total fixed costs to be covered if more than 30,800 units are produced. (Omit the "$" sign in your response) Total fixed costs to be covered by remaining sales $ (c) Compute the monthly break-even point for the new toy in units and in total sales dollars. (Round your answers to the nearest whole number. Omit the "$" sign in your response.) Monthly break-even point in unit sales units Monthly break-even point in dollar sales $ Requirement 2: How many units in total must be sold each month to make a monthly profit of $12,384? Total units to be sold units Requirement 3: If the sales manager receives a bonus of 15 cents for each unit sold in excess of the break-even point, how many units in total must be sold each month to earn a return of 28% on the monthly investment in fixed costs? (Round your answer to the nearest whole number.) Total units to be sold units Feather Friends, Inc., distributes a high-quality wooden birdhouse that sells for $24 per unit. Variable costs are $10.80 per unit, and fixed costs total $163,000 per year. 2. Requirement 1: What is the product's CM ratio? (Omit the "%" sign in your response.) CM ratio % 3. Requirement 2: Use the CM ratio to determine the break-even point in sales dollars. (Round your answer to the nearest whole dollar amount. Omit the "$" sign in your response.) Break-even point in sales $ 4. Requirement 3: Due to an increase in demand, the company estimates that sales will increase by $55,000 during the next year. By how much should net operating income increase (or net loss decrease) assuming that fixed costs do not change? (Omit the "$" sign in your response.) Increased net operating income $ 5. Requirement 4: Assume that the operating results for last year were: Sales $600,000 Variable expenses 270,000 Contribution margin 330,000 Fixed expenses 163,000 Net operating income $167,000 (a) Compute the degree of operating leverage at the current level of sales. (Round your answer to 2 decimal places.) Degree of operating leverage (b) The president expects sales to increase by 15% next year. By what percentage should net operating income increase? (Round your answer to 2 decimal places. Omit the "%" sign in your response.) Increase in net operating income % 6. Requirement 5: Refer to the original data. Assume that the company sold 34,000 units last year. The sales manager is convinced that a 11% reduction in the selling price, combined with a $65,000 increase in advertising, would cause annual sales in units to increase by one-third. (a) Prepare two contribution format income statements, one showing the results of last year's operations and one showing the results of operations if these changes are made. Show both total and per unit data on your statements.(Round your per unit values to 2 decimal places and other answers to the nearest dollar amount. Input all amounts as positive values. Omit the "$" sign in your response.) Last Year: 34,000 units Proposed: 45,333 units Amount Per Unit Amount Per Unit Sales $ $ $ $ Variable expenses Contribution margin $ $ Fixed expenses Net operating income $ $ (b) Would you recommend that the company do as the sales manager suggests? 7. Requirement 6: Refer to the original data. Assume again that the company sold 34,000 units last year. The president does not want to change the selling price. Instead, he wants to increase the sales commission by $1.70 per unit. He thinks that this move, combined with some increase in advertising, would increase annual sales by 35%. By how much could advertising be increased with profits remaining unchanged? (Do not prepare an income statement; use the incremental analysis approach.) (Omit the "$" sign in your response.) The amount by which advertising can be increased $ Scotia Company?s total overhead costs at various levels of activity are presented below: Month Machine Hours Total Overhead Cost April 56,000 $ 237,600 May 48,000 $ 208,800 June 64,000 $ 266,400 July 72,000 $ 295,200 Assume that the total overhead costs above consist of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 48,000 machine-hour level of activity is: Utilities (variable) $ 57,600 Supervisory salaries (fixed) 25,200 Maintenance (mixed) 126,000 Total overhead costs $ 208,800 Scotia Company?s management wants to break down the maintenance cost into its variable and fixed cost elements. 8. Requirement 1: Estimate how much of the $295,200 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $295,200 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs!) (Omit the "$" sign in your response.) Maintenance cost $ 9. Requirement 2: Using the high-low method, estimate a cost formula for maintenance. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Y = $ + $ X 10. Requirement 3: Express the company?s total overhead costs in the linear equation form Y = a + bX.(Round your answer to 2 decimal places. Omit the "$" sign in your response.) Y = $ + $ X 11. Requirement 4: What total overhead costs would you expect to be incurred at an operating activity level of 55,000 machine-hours?(Omit the "$" sign in your response.) Overhead cost $ Kangaroo Company of Sydney is a merchandising company that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company?s income statements for the three most recent months follow: Income Statements For the Three Months Ending April 30 February March April Sales in units 8000 10,000 12,000 Sales revenue A$ 280,000 A$ 350,000 A$ 420,000 Cost of goods sold 144,000 180,000 216,000 Gross margin 136,000 170,000 204,000 Selling and administrative expenses: Advertising expense 7,000 7,000 7,000 Shipping expense 26,000 30,000 34,000 Salaries and commissions 78,000 92,000 106,000 Insurance expense 2,800 2,800 2,800 Depreciation expense 5,200 5,200 5,200 Total selling and administrative expenses 119,000 137,000 155,000 Net operating income A$ 17,000 A$ 33,000 A$ 49,000 (Note: Kangaroo Company?s Australian-formatted income statement has been recast in the format common in the United States. The Australian dollar is denoted by A$.) 12. Requirement 1: Identify each of the company's expenses (including cost of goods sold) as either variable, fixed, or mixed. Expenses Classification Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense 13. Requirement 2: (a) Using the high-low method, separate each mixed expense into variable and fixed elements. (Omit the "A$" sign in your response.) Variable cost A$ per unit A$ per unit Fixed cost A$ A$ (b) State the cost formula for each mixed expense. (Omit the "A$" sign in your response.) Y = A$ + A$ X Y = A$ + A$ X 14. Requirement 3: Redo the company?s income statement at the 12,000-unit level of activity using the contribution format. (Input all amounts as positive values except net operating loss which should be indicated by a minus sign. Omit the "A$" sign in your response.) Kangaroo Company Income Statement For the Month Ended April 30 A$ Less variable expenses: A$ Contribution margin Less fixed expenses: A$ The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash $6,000 Accounts receivable $20,000 Inventory $31,500 Buildings and equipment, net $125,000 Accounts payable $24,000 Capital stock $150,000 Retained earnings $8,500 a. The gross margin is 25% of sales. b. Actual and budgeted sales data: March (actual) $80,000 April $60,000 May $76,000 June $96,000 July $48,000 c. Sales are 75% for cash and 25% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are a result of March credit sales. d. Each month's ending inventory should equal 70% of the following month's budgeted cost of goods sold. e. One-half of a month's inventory purchases is paid for in the month of purchase; the other half is paid for in the following month. The accounts payable at March 31 are the result of March purchases of inventory. f. Monthly expenses are as follows: commissions, 10% of sales; rent, $1,000 per month; other expenses (excluding depreciation), 6% of sales. Assume that these expenses are paid monthly. Depreciation is $1,000 per month (includes depreciation on new assets.) g. Equipment costing $2,500 will be purchased for cash in April. h. Management would like to maintain a minimum cash balance of at least $3,000 at the end of each month. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $20,000. The interest rate on these loans is 1% per month, and for simplicity, we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter. Requirement 1: Complete the following schedule using the above data. (Omit the "$" sign in your response.) Schedule of Expected Cash Collections April May June Quarter Cash sales $45,000 $ $ $ Credit sales 20,000 Total collections $65,000 $ $ $ Requirement 2: Complete the following using the above data. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) Merchandise Purchases Budget April May June Quarter Budgeted cost of goods sold $45,000 $57,000 $ $ Add desired ending inventory 39,900 Total needs 84,900 Less beginning inventory 31,500 Required purchases $53,400 $ $ $ Schedule of Expected Cash Disbursements?Merchandise Purchases April May June Quarter March purchases $24,000 $ $ $24,000 April purchases 26,700 26,700 53,400 May purchases June purchases Total disbursements $50,700 $ $ $ Requirement 3: Complete the following using the above data. (Omit the "$" sign in your response.) Schedule of Expected Cash Disbursements?Selling and Administrative Expenses April May June Quarter Commissions $6,000 $ $ $ Rent 1,000 Other expenses 3,600 Total disbursements $10,600 $ $ Requirement 4: Complete the following cash budget using the above data.(Deficiencies and Total financing should be preceded by a minus sign when appropriate. Enter all other amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) Cash Budget April May June Quarter Cash balance, beginning $6,000 $ $ $ Add cash collections 65,000 Total cash available 71,000 Less cash disbursements: For inventory 50,700 For expenses 10,600 For equipment 2,500 Total cash disbursements 63,800 Excess (deficiency) of cash 7,200 Financing: Borrowings Repayments Interest Total financing Cash balance, ending $ $ $ $ Requirement 5: Prepare an absorption costing income statement, for the quarter ended June 30.(Leave no cells blank - be certain to enter "0" wherever required.Input all amounts as positive values. Omit the "$" sign in your response.) Shilow Company Income Statement For the Quarter Ended June 30 $ Cost of goods sold: $ : : Selling and administrative expenses: : $ Requirement 6: Prepare a balance sheet as of June 30. (Omit the "$" sign in your response.) Shilow Company Balance Sheet June 30 Assets Liabilities and Equity Current assets: $ $ Stockholders' equity: Total current assets $ Total assets $ Total liabilities and equity $,Is that possible?,The assignment is due at 1030pm tonight? Can you work on it and send me what you finished by 1030?
