# Building an Income statement. Lifetime,

1. Building an Income statement.Lifetime, Inc. has sales of \$585,000, costs of \$273, 000, depreciation expense of \$71,000, interest expense of \$38,000, and a tax rate of 35%. What is the net income for this firm?

2. Per Share Earnings and Dividends.Suppose the firm in Problem A had 40,000 shares of common stock outstanding. What are the earnings per share, or EPS, figure? What are the dividends per share figure?

(Problem A: Dividends and Retained Earnings: Suppose the firm in Problem 1 paid out \$36,000 in cash dividends. What is the additional income for this firm?

3. Calculating OCF.Hammett, Inc. has sales of \$19,570, costs of \$9, 460, depreciation expense of \$2,130, and interest expense of \$1,620. If the tax rate is 35 percent, what is the operating cash flow, or OCF?

4. Preparing a Balance Sheet.Prepare a balance sheet for Alaskan

Orange Corp. as of December 31, 2010, based on the following information: cash = \$193,000; patents and copyrights = \$847,000; accounts payable = \$296,000; accounts receivable = \$253,000; tangible net fixed assets = \$5,100, 000; inventory = \$538,000; notes = \$189,000; accumulated retained earnings = \$4,586,000; long-term debt = \$1,250,000.

Please complete problems: 1, 2, 3, and 4 only! Please do NOT post these problems or ANY of my future assignments on the Internet: Google or ANY OTHER search engines. Thank you!

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