The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2022.INCOME STATEMENT OF QUICK BURGER CORPORATION, 2022(Figures in $ millions)Net salesCostsDepreciationEarnings before interest and taxes (EBIT)Interest expensePretax incomeFederal taxes (@21%)Net incomeAssetsCurrent assetsCash and marketable securitiesReceivablesInventoriesOther current assetsTotal current assetsFixed assetsProperty, plant, and equipmentIntangible assets (goodwill)Other long-term assetsTotal assets$ 27,58317,5851,418$8,5802022BALANCE SHEET OF QUICK BURGER CORPORATION, 2022(Figures in $ millions)2021$ 2,3521,3911381,105$ 4,9865338,0471,690$ 6,357$ 24,6932,8202,999$ 35,498In 2022 Quick Burger had capital expenditures of $3,065.a. Calculate Quick Burger's free cash flow in 2022.Note: Enter your answer in millions.$ 2,3521,351133632$4,468$ 22,851Liabilities and Shareholders' EquityCurrent liabilitiesDebt due for repaymentAccounts payableTotal current liabilitiesLong-term debtOther long-term liabilities2,669 Total liabilities3,115 Total shareholders' equity$33,103 Total liabilities and shareholders' equity2022-$ 3,419$ 3,419$ 13,6493,073$ 20,14115,357$ 35,498b. If Quick Burger was financed entirely by equity, how much more tax would the company have paid? (Assume a tax rate of 21%.)Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.c. What would the company's free cash flow have been if it was all-equity financed?Note: Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole number.2021$ 4153,159$ 3,574$ 12,1502,973$ 18,69714,406$ 33,103

Net income$6,357Depreciation$1,418Interest$533Current assets in 2022$4,986Current liabilities in…

he following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2022. INCOME STATEMENT OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) Net sales Costs Depreciation Earnings before interest and taxes (EBIT) Interest expense Pretax income Federal taxes (@21%) Net income Assets Current assets Cash and marketable securities Receivables nece Inventories A Other current assets Total current assets co Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets Total assets $ 27,583 17,585 1,418 $ 8,580 2022 BALANCE SHEET OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) 2021 $ 2,352 1,391 138 1,105 $ 4,986 533 8,047 1,690 $ 6,357 $ 24,693 2,820 2,999 $ 35,498 $ 2,352 1,351 133 632 $ 4,468 $ 22,851 Liabilities and Shareholders' Equity Current liabilities Debt due for repayment Accounts payable Total current liabilities Long-term debt Other long-term liabilities 2,669 Total liabilities 3,115 Total shareholders' equity $ 33,103 Total liabilities and shareholders' equity 2022 $ 3,419 $ 3,419 $ 13,649 3,073 $ 20,141 15,357 $ 35,498 2021 $ 415 3,159 $ 3,574 $ 12,150 2,973 $ 18,697 14,406 $ 33,103

he following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2022. INCOME STATEMENT OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) Net sales Costs Depreciation Earnings before interest and taxes (EBIT) Interest expense Pretax income Federal taxes (@21%) Net income Assets Current assets Cash and marketable securities Receivables nece Inventories A Other current assets Total current assets co Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets Total assets $ 27,583 17,585 1,418 $ 8,580 2022 BALANCE SHEET OF QUICK BURGER CORPORATION, 2022 (Figures in $ millions) 2021 $ 2,352 1,391 138 1,105 $ 4,986 533 8,047 1,690 $ 6,357 $ 24,693 2,820 2,999 $ 35,498 $ 2,352 1,351 133 632 $ 4,468 $ 22,851 Liabilities and Shareholders' Equity Current liabilities Debt due for repayment Accounts payable Total current liabilities Long-term debt Other long-term liabilities 2,669 Total liabilities 3,115 Total shareholders' equity $ 33,103 Total liabilities and shareholders' equity 2022 $ 3,419 $ 3,419 $ 13,649 3,073 $ 20,141 15,357 $ 35,498 2021 $ 415 3,159 $ 3,574 $ 12,150 2,973 $ 18,697 14,406 $ 33,103

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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