Financial data for Beaker Company for last year appear below.
Beaker Company
Statement of Financial Position
Beginning Balance Ending Balance
Assets
Cash $50,000 $70,000
Accounts receivable 20,000 25,000
Inventory 30,000 35,000
Plant and Equipment (net) 120,000 110,000
Investment in Cedar Company 80,000 100,000
Land (undeveloped) 170,000 170,000
Total Assets $470,000 510,000
Liabilities and Owners’ Equity
Accounts payable $70,000 $90,000
Long-term debt 250,000 250,000
Owner’s equity 150,000 170,000
Total liabilities and owner’s equity $470,000 $510,000
Beaker Company
Income Statement
Sales $414,000
Less Operating Expenses 351,900
Net Operating Income 62,100
Less Interest and Taxes
Interest Expense $30,000
Tax Expense 10,000 40,000
Net Income $22,000
The company paid dividends of $2,100 last year. The Investment in Cedar Company on the statement of financial position represents an investment in the stock of another company.
Required:
i. Compute the company’s margin, turnover, and return on investment for last year.
ii. The board of directors of Beaker Company has set a minimum required return of 20%. What was the company’s residual income last year? (Points : 15)
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