[PDF] [PDF] Practice finals Name: 1 CORPORATE FINANCE FINAL EXAM

4lolm6m2l4 31 l5m b36 reduc itsns c esi i [m6m24m4 E 8ACCCACCC

G PR

G =m

PQ@L E KCCACCC

G @2lmrm4l PR

LoRo73m @2b36m E BCCACCC

G LoR E 8]CACCC

5ml @2b36m E FBCACCC

i vnoned ity si i aff sfi lwnhwowsw fi Pr3bb342l4 Po:o73m E KCCACCC _o29 d Q4e39e2D4 E KCCACCC _32D Lmr6 =m7l E 8ACCCACCC

Y4rrm2l >44ml4E 8ACCCACCC PH4el: E 8AKCCACCC

L3lo3 E SACCCACCC L3lo3 E SACCCACCC

i L5m 9m7l e4 23l lro9m9A 74l el4 m4le6olm9 6or8ml 6o34m e4 8FKN 31 1obm I7338J 6o34m1 =4m l3 el4 3e6elm9 5e4l3r:A l5m 7mlo 31 l5m 4l3b8 bo223l 7m m4le6olm9 1r36 5o6m e213r6ole32 o734l b36 ,wxci em2l4b8: \rem9 Y5eb8m2 v sni 81CK
b hs:(Igwspimnswui FCN for9mmO4 81FC KCN

P3

Problebm 1e2o34 5o6m7

B [3: [3Dmr4 81SK TCN IL5m b366or8ml re48 >4 Dm2mro3 e213r6ole32A :34 5o6m o343 b333mblm9 9olo 32 e2lmrm4l b36mroDm role34A role2D4 o29 e2lmrm4l rolm 4>> g1]K h C1SCN >> ]1UK g1SK C1TCN >i K1]K ]1UBgggg 81CCN > B1Bg K1]Bgggg 81FKN >G S1Fg B1BUggggg 81KCN

QQQ F1T] S1FUggggg F1CCN

QQ F18T F1TKggggg F1KCN

Qi 81UT F18]ggggg S1CCN

Q 81KT 81U]ggggg B1CCN

QG 81FT 81K]ggggg K1CCN

YYY C1UT 81F]ggggg ]1CCN

YY C1]T C1U]ggggg T1KCN

Y C1FK C1]]ggggg g1CCN

= G8CCCCC C1FBggggg 8F1CCN L5m lrmo44r: 7e33 rolm e4 S1CCN o29 l5m lrmo44r: 7329 rolm e4 ]1FKN1 o1FV5ol e4 l5m b4rrm2l b34l 31 mH4el:W

71FV5ol e4 :34r 7m4l m4le6olm 31 l5m b4rrm2l o1lmrGloR b34l 31 9m7lW IL5m b36 b4rrm2l3:J b1FV5ol e4 l5m b4rrm2l b34l 31 boProblebm 1e2o34 5o6m7

K >4 G1

91F@1 el 93m4 43A M5ol Me33 l5m 2mM b34l 31 mH4el: 7mW

m1Ff3M 64b5 Me33 l5m 4l3b8 7ob8 l3 reduc itsns c esi [m6m24m4 E 8ACCCACCC

G PR

G =m

PQ@L E KCCACCC

G @2lmrm4l PR

LoRo73m @2b36m E BCCACCC

G LoR E 8]CACCC

5ml @2b36m E FBCACCC

vnoned ity si i aff sfi lwnhwowsw fi Pr3bb342l4 Po:o73m E KCCACCC _o29 d Q4e39e2D4 E KCCACCC _32D Lmr6 =m7l E 8ACCCACCC Y4rrm2l >44ml4E 8ACCCACCC PH4el: I8CCACCC 45orm4J E 8AKCCACCC

L3lo3 E SACCCACCC L3lo3 E SACCCACCC

Q34l32 L4r8m: mR1r36 2mRl :morA M5mrm l5m: <3o2 l3 e26m4l l5m 14294 1r36 3 rmo33: 453439 23l 7m 224o3 Y\ l3 PH4el: Qmlo

Problebm 1e2o34 5o6m7

> E 8CCACCC 8FAKCC 81CC

Q E 8CCACCC 8BACCC 81KC

Y E KCACCC UACCC 81UC

= E KCACCC 8FACCC F1CC L5m lrmo44r: 7e33 rolm e4 SN o29 l5m lrmo44r: 7329 rolm e4 ]1FKN1 L5m 1er6 <3o24 l3 1e2o2bm BCN

31 el4 14l4rm 2ml bo 9m7l1 o1Ff3M 64b5 bo2 l5m b3671F53M o44446m l5ol l5m 1er6 obl4o33: b4rrm2l bo45 7o3o2bm 31 l5m 1er6 e4 E8KCACCC1 f3M 64b5 Me33 l5m bo45 7o3o2bm 31 l5m 1er6 7m ol l5m m29 31 2mRl :morA o1lmr l5m 3r9e2or: e2b36m o29 323: FUN 32 bo

32 l5m mRG9e6e9m29 9o:A e1 l5m b36 S1F234 orm 23M lr:e2D l3 6o34m Q34l32 L4r8m:1 \3r <4r<34m4 31 4e6<3ebel:A l5m rm3m6o2l e213r6ole32 o734l l5m b36Por2e2D4 =e6e9m294 5467mr 31 45orm4 Z 8CCACCC Q338 co34m 31 PH4el: Z E8AKCCACCC

bor8ml co34m 31 =m7l Z 8AFKCACCC LoR [olm Z BCN =4m l3 el4 3e6elm9 5e4l3r:A l5m 7mlo 31 l5m 4l3b8 bo223l 7m m4le6olm9 1r36 5o6m e213r6ole32 o734l b36 ,wxci em2l4b8: \rem9 Y5eb8m2 v sni 81CK
b hs:(Igwspimnswui FCN for9mmO4 81FC KCN

P3 [3: [3Dmr4 81SK TCN

Problebm 1e2o34 5o6m7

T

IL5m b36 j L5e4 e4 l5m 4o6m e213r6ole32 :34 Mmrm De6m2 e2 4446e2D l5ol l5m4m 2467mr4 orm 444loe2o73m 13r l5m 2mRl l5rmm :mor4A M5ol e4 l5m mR71FL5m Dr3Ml5 rolm o1lmr :mor S e4 mR l5m m29 31 :mor SW b1FV5ol e4 l5m 6o34m Problebm 1e2o34 5o6m7

U o

81Flob8432GPrm43m: @2b1 e4 o 46o33 b36

644ebo3 Y=4 o29 bo44mllm4 o29 el e4 o343 e26336m9 e2

3o4l lM3 rm<3rlm9 e2b36m 4lolm6m2l4 e29ebolm l5ol l5m b36

3o4l lM3 :mor4 m

lnfsi) nxiRgxx esi) nxi [m6m24m4 E 8CC 6e33e32 E8KC 6e33e32

G Y34l 31 `3394 ?339 E BC 6e33e32 E ]C 6e33e32

G =m63rle;ole32 E 8C 6e33e32 E 8S 6e33e32 Por2e2D4 7m13rm e2lmrm4l o29 loRm4 E KC 6e33e32 E UK 6e33e32 @2lmrm4l PRLoRo73m @2b36m E KC 6e33e32 E UC 6e33e32

LoRm4 E FC 6e33e32 E SF 6e33e32

5ml @2b36m E SC 6e33e32 E BU 6e33e32

L5m b36Y4rrm2l >44ml4 E KC 6e33e32 PH4el: E8FC 6e33e32

L3lo3 E FCC 6e33e32 L3lo3 EFCC 6e33e32

lob8432GPrm43m:O4 4l3b8 5o4 7mm2 3e4lm9 32 l5m 5>?=>n 13r l5m 3o4l lM3 :mor4 o29 e4 lro9e2D ol lMebm l5m 7338 6o34m I31 mH4el:J1 L5mrm orm 8F 6e33e32 45orm4 34l4lo29e2D1 lob8432GPrm43m: 9mre6m4 TKN 31 el4 l3lo3 6or8ml 6o34m 1r36 el4 rmb3r9XY= 744e2m44 o29 FKN 1r36 l5m b32bmrl 744e2m441 V5e3m l5m Ruc5nxnho i,wxcfi

vgfwe ffiaO xn. iv sniaO xn. ib:(imnswui [mb3r9XY= Q44e2m44 818K KC1CCN x$/$tgqop/3ut%g,1u/o L5m b4rrm2l lrmo44r: 7329 rolm e4 U1CCN1 >33 l5m H4m4le324 e2 l5e4 mRo6 rm3olm l3 l5m b36Problebm 1e2o34 5o6m7

g

Y32bmrl Q44e2m44 81FC 8C1CCN

I234 bo2 o4446m l5ol l5m4m b36 IL: rolm9 73294 orm :em39e2D 8CN b4rrm2l3: e2 l5m 6or8mlJ1 o1FP4le6olm l5m 6or8ml 6o34m 31 l5m 9m7l1 IF <3e2l4J

71FP4le6olm l5m b4rrm2l b34l 31 mH4el:1 I S <3e2l4J

b1FP4le6olm l5m b4rrm2l MmeD5lm9 o6mroDm b34l 31 bo91F@1 l5m lrmo44r: 7329 rolm Mmrm l3 re4m l3 gNA 6o8m :34r 7m4l m4le6olm 31 l5m 2mM b34l 31

bo4lolm6m2l4 13r l5m b4rrm2l :mor o29 l5m b4rrm2l 7o3o2bm 45mml orm rm

Rgxx esi) nxi

[m6m24m4 E8KC 6e33e32

GFY34l 31 `3394 ?339 E ]C 6e33e32

GF=m63rle;ole32 E 8S 6e33e32

Por2e2D4 7m13rm e2lmrm4l o29 loRm4 E UK 6e33e32

@2lmrm4l PRLoRo73m @2b36m E UC 6e33e32

LoRm4 E SF 6e33e32

5ml @2b36m E BU 6e33e32

L5m b36Y4rrm2l >44ml4 E KC 6e33e32 PH4el: E8FC 6e33e32

L3lo3 E FCC 6e33e32 L3lo3 E FCC

6e33e32

Problebm 1e2o34 5o6m7

8C oFL5m mH4el: e4 lro9e2D e2 l5m 6or8ml ol lM3 le6m4 l5m 7338 6o34m1 L5m 9m7l e4 b36<34m9

31 lm2G:mor 73294A o29 e4 rolm9 > IL: rolm9 73294 orm :em39e2D 8CN b4rrm2l3:

e2 l5m 6or8mlJ1 oF>4446m l5ol lob8432GPrm43m: e2lm294 l3 6oe2lo e2 el 4 M3r8e2D bo343 o4446m l5ol l5m 13333Me2D e4 l5m 3e4le2D 31 l5m 6oa3r e26m4l6m2l 3<<3rl42elem4 l5ol lob8432GPrm43m: 5o4 13r l5m 2mRl :mor1

ExuF dsi%usnoireO fsc esirmmiuei5xuF dsi

Ggfwe.iR,isui(IgwspHi

v sniGl O x 2Hi > E 8K 6e33e32 8]N 81]C

Q E SC 6e33e32 8KN 81FK

Y E FK 6e33e32 8F1KN 81C

= E FC 6e33e32 881KN C1K o1F@1 rm6m24m4A 2ml e2b36m o29 9m749Dmle2D 2mm94W I K <3e2l4J

71FL5m b36

7o3o2bm e1 lob8432GPrm43m: 6oe2loe24 el4 S1FL5m 6o2oDmr4 ol lob8432GPrm43m: o343 7m3em6m l5ol l5m: orm 4eD2e1ebo2l3: 429mr6o34m9A o29 Mo2l :34 l3 m4le6olm 53M 64b5 l5m mH4el: e2 l5m 1er6 e4 lr43: M3rl51 L5m: 7mlo 13r l5m 2mRl 1e6m :mor41

oFL5m 9e6e9m29 9m7l mH4el: role3 o29 e2lmrm4l rolm Me33 7m 6oe2loe2m9 13r l5m 5eD5 Dr3Ml5

7338 6o34m 31 mH4el: ol l5m 7mDe22e2D 31 l5m :mor Mo4 E 8CC 6e33e32 74l l5m 7338

6o34m 31 9m7l e4 42b5o2Dm9pJ

Problebm 1e2o34 5o6m7

88
oFL5mrm orm 8F 6e33e32 45orm4 34l4lo29e2D1 oF>1lmr l5m 5eD5GDr3Ml5 Dr3Ml5 o1FP4le6olm l5m mR71FP4le6olm l5m mR b1FP4le6olm l5m mR91FP4le6olm l5m lmr6e2o3 m1FP4le6olm l5m 6o34m l39o: 1r36 l5m 9e6e9m29 9e4b342l 639m31 I8 <3e2lJ B1Flob8432GPrm43m: e4 23M <3o22e2D o 6oa3r rm4lr4bl4re2D e26336e2D l5m 13333Me2D oble324 oF> 9e6e4e 32A 9e6e4e32 e4 b4rrm2l3: mor2e2D E K 6e33e32 7m13rm e2lmrm4l o29 loRm41 >4 6m2le32m9 e2

IB <3e2l4J

71FP4le6olm l5m 2mM b34l 31 mH4el: 13r lob8432GPrm43m: o1lmr l5m rm4lr4bl4re2D1 IB <3e2l4J

Problebm 1e2o34 5o6m7

8F o

81F?=_ e4 o 1er6 6o241obl4re2D M3r39 Me9m1 L5m 1e2o2beo3 4lolm6m2l4 13r l5m 634l rmbm2l lM3 :mor4 orm e2b349m9 7m33M1

Income Statements

(All figures in millions)

Balance Sheets (in millions)

IJJKiIJJLi

IJJKiIJJLi

\eRm9 >44ml4 E8KC E8TK Y4rrm2l _eo7e3elem4 EBC EKC

Y4rrm2l >44ml4 E]C ETK =m7l EgC E8CC

PH4el: EUC E8CC

%usnoiE F8C E FKC %usnoiE F8C EFKC @2 o99ele32A :34 orm 5o4 7mm2 lro9m9 13r 323: lM3 :mor41 > rmDrm44e32 31 4l3b8 rml4r24 oDoe24l 6or8ml

rml4r24 :em394 o 7mlo 31 C1gA Mel5 o 4lo29or9 mrr3r 31 C1U1 L5mrm ormA 53Mm6mrA 1e6m b346mleb4 1er64 M5eb5 orm <473eb3: lro9m9A Mel5 l5m 13333Me2D m4le6olm4 31 7mlo4 13r mob51 >24Mmr o33 H4m4le324 32 l5m mRo61 @1 :34 5o6m o99ele32o3 M3r8A <3mo4m ollob5 l5m M3r81

IJJKiIJJLi

[m6m24m4 E 8KC1CC E FCC1CC

G ^

G =m

Z PQ@L E FK1CC E BC1CC

G @2lmrm4l PR

Z LoRo73m @2b36m E FC1CC E SS1KC

G LoRm4 E K1CC E 8S1KC

Z 5ml @2b36m E 8K1CC E FC1CC

Problebm 1e2o34 5o6m7

8S

Ruc5nepiv snib:(imnswui

>37mrl3 Y436mr C1UK 8CN >632 Pr394bl4 81S BCN `e33mllm 81FK FKN fm3m2 31 Lr3: C1gK 8KN fm3m2m Y4rle4 C1UK FCN >33 l5m4m 1er64 1obm o 6orDe2o3 loR rolm 31 BCN1 oFL5m 9m7l 32 l5m 7o3o2bm 45mml 5o4 lM3 b36<32m2l41 L5m 1er4l e4 lro9m9 73294A Mel5 lm2 :mor4 l3 mR9m7lA M5eb5 o343 5o4 o lm2 :mor 6ol4rel:A o29 borrem4 o2 e2lmrm4l rolm 31 ]N1

o1FP4le6olm l5m b34l 31 mH4el: 13r ?=_ @2b1 IF <3e2l4J

71FP4le6olm l5m 6or8ml 6o34m 31 9m7l o29 l5m o1lmrGloR b34l 31 9m7l13r ?=_ @2b1

b1FP4le6olm l5m b34l 31 bo91F>4446m l5ol :34 5o6m rmDrm44m9 ?=_r4 1er6 6o34m 36mr l5m 3o4l U H4orlmr4 oDoe24l 332D

lmr6 rolm4A `5P Dr3Ml5 o29 l5m =b I?=_r4 36mr4mo4 4o3m4 orm 5o6m orre6m9 ol l5m 13333Me2D rm443l4 m

Y5o2Dm e2 1er6 6o34m Z C188 G 81KC IY5o2Dm e2 _32D Lmr6 @2lmrm4l [olmJ

Y5o2Dm e2 1er6 6o34m Z C18U i C1KC I`5P `r3Ml5J

Y5o2Dm e2 1er6 co34m Z C18K G C1F] Is? E X=b Y4rrm2b: [olmJ =3m4 ?=_r4 b4rrm2l 9m7l 6eR Ilm2G:mor E 9m7lJ 1el el4 2mm94W @1 43A M5:W @1 23lA M5: 23lW f3M M3439 :34 b5o2Dm l5m 9m7l 6eR l3 1el l5mer 1er6 b5oroblmre4leb4W IF <3e2l4J m1F>4446m l5ol l5e4 1er6 9mbe9m4 l3 93 o2 obH4e4ele32 31 t_5L @2bA o 46e33e32A o 7mlo 31 81FK o29 23 9m7l 34l4lo29e2D1 L5m obH4e4ele32 Me33 7m 1e2o2bm9 m2lerm3:

Mel5 9m7lA M5eb5 Me33 rm443l e2 l5m role2D 13r ?=_ 9r3<73294 b4rrm2l3: borr: o2 e2lmrm4l rolm 31 g1KN1 P4le6olm ?=_r4 b34l 31 bo obH4e4ele321 IB <3e2l4J F1Fc[\ @2b1 e4 o Mm33Gm4lo73e45m9 1er6 l5ol 6o241obl4rm4 o4l3637e3m b36<32m2l4A o29 5o4 o 332D o29 6m2mro73m 5e4l3r:1 @l 5o4 b36m l3 :34 13r o96ebm 32 9e6e9m29 <33eb:A o29 el

Problebm 1e2o34 5o6m7

8B 1e2o2beo3 9oloJm

oF@2 8ggBA el 5o9 rm6m24m4 31 E8ACCC 6e33e32 o29 6o9m o 2ml e2b36m 31 E 8KC 6e33e32q el

5o9 o 7338 6o34m 31 mH4el: 31 E 81K 7e33e321

oF@l 5o9 bo6e33e321

oFL5m M3r8e2D bo71F>4446m 23M l5ol :34 orm lr:e2D l3 m4le6olm 53M 64b5 el 453439

94re2D 8ggKA o29 l5ol :34 orm De6m2 l5m 13333Me2D o99ele32o3 e213r6ole32 m

oFL5m rm6m24m4 o29 mor2e2D4 orm mR7r38m2 34l el4 mR =e6e4e32 Yo< PR 5mm94 [ml4r2 32 PH4el: Qmloquotesdbs_dbs21.pdfusesText_27