财务管理试题1-杨潇.doc

The following balance sheet and income statement should be used for questions #1 through #5: Nabors, Inc. 2005 Income Statement ($ in millions) Net sales $9,610 Less: Cost of goods sold 6,310 Less: Depreciation （1） Earnings before interest and taxes 1,930 Less: Interest paid 630 Taxable Income $1,300 Less: Taxes 455 Net income （2） Nabors, Inc. 2004 and 2005 Balance Sheets ($ in millions) 2004 2005 2004 2005 Cash $ 310 $ 405 Accounts payable $ 2,720 $ 2,570 Accounts rec. 2,640 3,055 Notes payable 100 0 Inventory 3,275 3,850 Total $2,820 $ 2,570 Total （3） $ 7,310 Long-term debt 7,875 8,100 Net fixed assets （4） 10,670 Common stock 5,000 5,250 Retained earnings （5） 2,060 Total assets $17,185 $17,980 Total liab. equity $17,185 $17,980 a. 1380 b. 1370 c. 1440 d.1510 e. 1360 a. $845 b. $945 c. $ 860 d.$ 885 e. $910 a. $ 6500 b. $ 6225 c. $6355 d.$ 6150 e. $6410 a. 10930 b. 10955 c. 10805 d.10960 e.11500 a. 1510 b. 1485 c.1490 d.1560 e.1495 The following balance sheet and income statement should be used for questions #6 through #15: Windswept, Inc. 2005 Income Statement ($ in millions) Net sales $8,450 Less: Cost of goods sold 7,240 Less: Depreciation 400 Earnings before interest and taxes 810 Less: Interest paid 70 Taxable Income $ 740 Less: Taxes 259 Net income $ 481 Windswept, Inc. 2004 and 2005 Balance Sheets ($ in millions) 2004 2005 2004 2005 Cash $ 120 $ 140 Accounts payable $1,110 $1,120 Accounts rec. 930 780 Long-term debt 840 1,210 Inventory 1,480 1,520 Common stock 3,200 3,000 Tot