College of Administrative and Financial Sciences
Assignment 1
Principles of Finance (FIN101)
Deadline for students: (25/02/2022@ 23:59)
| Course Name: Principles of Finance | Student’s Name: |
| Course Code: FIN101 | Student’s ID Number: |
| Semester: 2nd | CRN: |
| Academic Year: 1443/1444 H, Second Semester | |
For Instructor’s Use only
| Instructor’s Name: | |
| Students’ Grade: /5 | Level of Marks: High/Middle/Low |
Instructions – PLEASE READ THEM CAREFULLY
- This assignment is an individual assignment.
- The Assignment must be submitted only in WORD format via the allocated folder.
- Assignments submitted through email will not be accepted.
- Students are advised to make their work clear and well presented. This also includes filling in your information on the cover page.
- Students must mention question numbers clearly in their answers.
- Late submitted assignments will NOT be entertained.
- Avoid plagiarism; the work should be in your own words; copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
- All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
Assignment Questions: (Marks: 05)
Q1. XZY has net sales of 5,320,140; net income of 2,145,700; cost of goods sold 1,300,000; and EBIT 2,200,000. Calculate the gross profit and the operating profit margin for the firm. (Show your calculations) (1 Mark)- Ch 4
Q2. Prepare a common sized Balance Sheet for the below Balance sheet? (Show your calculations) (1 Mark)- Ch 4
| Cash | 21,000 |
| Acct/Rec | 52,000 |
| Inventories | 200,500 |
| Current assets | 273,500 |
| Net fixed assets | 132,000 |
| Total assets | 405,500 |
| Accts/Pay | 22,800 |
| Accrued expenses | 21,000 |
| Short-term N/P | 8,700 |
| Current liabilities | 52,500 |
| Long-term debt | 150,000 |
| Total liabilities | 202,500 |
| Owner’s equity | 203,000 |
| Total liabilities and owners’ equity | 405,500 |
Q3. ABC company generated total sales of $32,565,420 during fiscal 2021. Depreciation and amortization for the year totaled $1,278,120, and cost of goods sold was $21,400,000. Interest expense for the year was $6,341,250 and selling, general, and administrative expenses totaled $2,556,610 for the year. If the company’s tax rate was average 30 percent, what is its net income after taxes? (Show your calculations) (1 Mark)- Ch 3
Q4. BBB company had cash and marketable securities worth $400,134 accounts payables worth $2,490,357, inventory of $1,321,500, accounts receivables of $2,188,128, short-term notes payable worth $120,000, other current liabilities of 200,000, and other current assets of $521,800. What is the company’s net working capital? (Show your calculations) (1 Mark)-Ch 3
Q5. In your own words, explain the difference between Brokers and Dealers? (Show your calculations) (1 Mark)-Ch 2
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