ASX & Media Release Thursday 12 September 2013 Myer Full Year Results ending 27 July 2013 Full year total sales up 0.8 percent to $3,145 million Operating gross profit up 1.8 percent to $1,312 million Operating gross margin up 40 basis points to 41.7 percent Net profit after tax down 8.7 percent to $127 million Full year dividend of 18 cents, fully franked FY2013 Financial Highlights Sales Total sales up 0.8% to $3,145 million, up 0.4% on a comparable store sales basis Myer Exclusive Brands sales up $40 million to 20.0% of sales, Concessions up $18 million to 15.4% of sales Operating gross profit Operating gross profit up 1.8% to $1,312 million Operating gross profit margin up 40 basis points (bps) to 41.7% Earnings Cost of doing
Question: : (TCO D) A company issues $5,000,000, 7.8/%, 20-year bonds to yield 8% on January 1, 2010. Interest is paid on December 31. The proceeds from the bonds are $4,901,036. Using effective-interest amortization, how much interest expense will be recognized in 2010? 15.
How many years will it take for $197,000 to grow to be $554,000 if it is invested in an account with a quoted annual interest rate of 8% with monthly compounding of interest? 8. At what quoted annual interest rate must $134,000 be invested so that it will grow to be $459,000 in 15 years if interest is compounded weekly? 9. An annuity pays $24,000 per year for 11 years (first payment one year from today).
Problem 13-23A Financial statements for Pocca Company follow. (See Excel) Use the financial statements for Pocca Company from Problem 13-22A to calculate the following ratios for 2006 and 2005. Working capital Current ratio Quick ratio Accounts receivable turnover (beginning receivables at January 1, 2005, were $47,000.) Average number of days to collect accounts receivable Inventory turnover (beginning inventory at January 1, 2005, was $140,000.) Average number of days to sell inventory Debt to assets ratio Debt to equity ratio Times interest earned Plant assets to long-term debt Net margin Asset turnover Return on investment Return on equity Earnings per share Book value per share of common stock Price-earnings ratio
MARRIOTT CORPORATION: THE COST OF CAPITAL Lodging Division Cost of Debt From Table A, * Fraction of Debt at Floating: 50% * Fraction of Debt at Fixed: 50% Using credit risk premium to calculate cost of debt, the equation is as follows: Cost of Debt = Low risk rate+Risk premium Floating Rate -- Assume the interest rate of floating rate debt changes every year so we use 1-year rate U.S. Government interest rate, which is 6.90% (from Table B). Therefore, the cost of floating rate debt equals 6.9% plus the 1.1% risk premium, which totaled to 8%. Fixed Rate -- As lodging assets have long useful lives, we use the long-term debt rate, i.e. 30-year U.S. Government interest rate, which is 8.95% (from Table B). Therefore, the cost of fixed rate debt equals 8.95% plus 1.1% risk premium, which totaled to 10.5% Cost of Debt = (0.5 x 0.08) + (0.5 x 0.105) = 0.095 = 9.25% [since floating rate and fixed rate debt both weigh 50%, we use the weighted average approach to calculate the total cost of debt rate] Based on historical data analysis below, we get an average income tax rate of 42%.
Debt to assets ratio $1,202,134 (total debt) / $1,404,726 (total assets) = 87.4% B.) ROA is a measure of profitability or effectiveness of resource usage calculated by expressing a company’s net income as a percentage of total assets. As for Sepracor, its ROA is 4.5%. This means that Sepracor created 4.5 cents of earnings from each dollar of assets. The ROE for Sepracor is 33.07%, which means that 33.07 cents of assets are created for each dollar that was originally invested.
The net cash inflow and cash outflow are calculated using sales and production figures for the next 8 years. The unit cost from the first year is £0.89 which is the cost per mashing without depreciation and divided by 13,000 bottles. From this information provided, the cost will increase by 3.5% and also the selling price will increase by 4% every year (reference 4). These figures are based on the current rate inflation of 4% which is shown in appendix 9 The capital allowances are worked out on cased of 20% (Reference 5) and the annual investment allowance is £100,000 is available (Reference 6) in the first year which is restricted to £87,359. This figure is substrated from the acquisition giving a result of £332,641 which is the written down value.
Success in this context has to be measured on wether both Reagan and Thatcher achieved their objectives which in both cases was to accomplish economic stability and prosperity. To do this I will use GDP, employment and consumption as a calculator. During the Reagan administration the USA experienced an annual average percentage growth of 3.2% and a totally percentage growth 80.9% . Employment went from 19.9 million to 35 million from 1983-1999 and consumption had a total annual percentage growth of 2.7% and a totally percentage growth of 56.0% . Thatcher’s administration saw and annual percentage growth of 2.7% and a total percentage growth of 69% .
ANSWERS TO CHAPTER working with numbers and graphs 1. A college raises its annual tuition from $2,000 to $2,500, and its student enrollment falls from 4,877 to 4,705. Compute the price elasticity of demand. Is demand elastic or inelastic? Using the formula for Ed, we find Ed = [(4,705 – 4,877) / (4,877 + 4,705) / 2] [(2,500 – 2,000) / (2,500 + 2,000) / 2] = 0.16.
What is the market price of this bond if the face value is $1,000? • $1,071.84 • $788.73 • $1,082.17 • $1,019.29 • $947.45 4. The next dividend payment by ECY, Inc., will be $1.64 per share. The dividends are anticipated to maintain a growth rate of 8 percent, forever. The stock currently sells for $31 per share.