I will upload Problem 1 (12 points) In Excel, create an income statement and balance sheet for 2018 for Klein Manufacturing from the following information. Cash $500
View complete question I will upload Problem 1 (12 points) In Excel, create an income statement and balance sheet for 2018 for Klein Manufacturing from the following information. Cash $500 Accounts Receivable 20% of Sales Accounts Payable 20% of Cost of Goods Sold Notes Payable $800 Inventory $2,900 Gross Plant & Equipment $22,000 Long-term Debt $4,000 Common Stock $10,000 Sales $7,500 Cost of Goods Sold 40% of Sales Depreciation Expense $1,200 Other Operating Expenses $1,000 Interest Expense 8% of Long-term Debt Income Taxes 25% of Taxable Income Since I did not give you retained earnings, you will need to calculate it. Retained earnings will be the amount necessary to balance your balance sheet. Accumulated depreciation for 2017 was $6,000. a. What is the firms operating cash flow for 2018? b. If gross plant & equipment for 2017 was $20,000, what is the amount of the net capital spending for 2018? c. If Kleins current assets for 2017 were $4,750 and current liabilities for 2017 were $1,750 what is the change in the net working capital from 2017 to 2018? Problem 2 (8 points) You are planning to purchase a new car at $44,000 and you already saved $4,000 for the down payment and will apply for a car loan to finance the rest of the purchase price. Your bank offers a loan with monthly payments at 4% APR with a term of 36 months. Alternatively, a credit union has a promotional APR of 3% for new customers with a loan term of 48 months. Build amortization tables of both loan alternatives and calculate total interest paid in each loan. Calculate Effective Annual Rate (EAR) for each loan.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more