The 2014 balance sheet of jordan’s golf shop, inc., showed long-term debt of $6.2 million, and the 2015 balance sheet showed long-term debt of $6.45 million. the 2015 income statement showed an interest expense of $215,000. the 2014 balance sheet showed $610,000 in the common stock account and $2.5 million in the additional paid-in surplus account. the 2015 balance sheet showed $650,000 and $3 million in the same two accounts, respectively. the company paid out $610,000 in cash dividends during 2015. suppose you also know that the firm’s net capital spending for 2015 was $1,470,000, and that the firm reduced its net working capital investment by $89,000. what was the firm’s 2015 operating cash flow, or ocf? (do not round intermediate calculations. enter your answer in dollars, not millions of dollars, e. g., 1,234,567.)

Which of the following statements is correct? a. two firms with identical sales and operating costs but with different amounts of debt and tax rates will have different operating incomes by definition. b. free cash flow (fcf) is, essentially, the cash flow that is available for interest and dividends after the company has made the investments in current and fixed assets that are necessary to sustain ongoing operations. c. retained earnings as reported on the balance sheet represent cash and, therefore, are available to distribute to stockholders as dividends or any other required cash payments to creditors and suppliers. d. if a firm is reporting its income in accordance with generally accepted accounting principles, then its net income as reported on the income statement should be equal to its free cash flow. e. after-tax operating income is calculated as ebit(1 - t) + depreciation.

Suppose that xtel currently is selling at $40 per share. you buy 500 shares using $15,000 of your own money, borrowing the remainder of the purchase price from your broker. the rate on the margin loan is 8%. a. what is the percentage increase in the net worth of your brokerage account if the price of xtel immediately changes to (a) $44; (b) $40; (c) $36? (leave no cells blank - be certain to enter "0" wherever required. negative values should be indicated by a minus sign. round your answers to 2 decimal places.) b. if the maintenance margin is 25%, how low can xtel’s price fall before you get a margin call? (round your answer to 2 decimal places.) c. how would your answer to requirement 2 would change if you had financed the initial purchase with only $10,000 of your own money? (round your answer to 2 decimal places.) d. what is the rate of return on your margined position (assuming again that you invest $15,000 of your own money) if xtel is selling after one year at (a) $44; (b) $40; (c) $36? (negative values should be indicated by a minus sign. round your answers to 2 decimal places.) e. continue to assume that a year has passed. how low can xtel’s price fall before you get a margin call? (round your answer to 2 decimal places.)

What is the relationship among market segmentation, target markts, and consumer profiles?