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  • Fin 3403 During 2014 Raines Umbrella Corp Had Sales of 830000 Cost of Goods

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    Raines Umbrella Corp. had $830,000 in sales in 2014. Their costs of goods sold was $575,000, administrative and selling expenses were $125,000, and depreciation expenses were $145,000. The company also had $80,000 in interest expenses. They paid $59,000 in dividends. If there were no changes to assets or new stock, the company would have needed $59,000 in new long-term debt.

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    Raines Umbrella Corp. had $830,000 in sales in 2014. Their costs of goods sold was $575,000, administrative and selling expenses were $125,000, and depreciation expenses were $145,000. The company also had $80,000 in interest expenses. They paid $59,000 in dividends. If there were no changes to assets or new stock, the company would have needed $59,000 in new long-term debt.

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    Fin 3403 During 2014 Raines Umbrella Corp Had Sales of 830000 Cost of Goods

    Uploaded by

    Charlotte
    Raines Umbrella Corp. had $830,000 in sales in 2014. Their costs of goods sold was $575,000, administrative and selling expenses were $125,000, and depreciation expenses were $145,000. The company also had $80,000 in interest expenses. They paid $59,000 in dividends. If there were no changes to assets or new stock, the company would have needed $59,000 in new long-term debt.

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    FIN 3403 - During 2014, Raines Umbrella Corp.

    had sales of
    $830,000. Cost of goods
    FIN 3403 - During 2014, Raines Umbrella Corp. had sales of $830,000. Cost of goods

    Question

    During 2014, Raines Umbrella Corp. had sales of $830,000

    During 2014, Raines Umbrella Corp. had sales of $830,000. Cost of goods sold, administrative
    and selling expenses, and depreciation expenses were $575,000, $125,000, and $145,000,
    respectively. In addition, the company had an interest expense of $80,000 and a tax rate of 35
    percent. (Ignore any tax loss carryback or carryforward provisions.)

    Suppose Raines Umbrella Corp. paid out $59,000 in cash dividends. Is this possible? If
    spending on net fixed assets and net working capital was zero, and if no new stock was issued
    during the year, what is the net new long-term debt? (Do not round intermediate calculations.)

    FIN 3403 - During 2014, Raines Umbrella Corp. had sales of $830,000. Cost of goods

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