My writer delivered an awesome dissertation on the Creek War, I definitely didn’t have the time to do all the research she did on my own.
China Gold Mining produces and markets gold. The following are selected numbers from the financial statements for 2018 and 2019 (in millions).
(Less) Operating Expenses
(Less) Interest Expenses
= Net Income
The firm had capital expenditures of $950 million in 2018 and $1 billion in 2019. The working capital in 2017 was $190 million, and the total debt outstanding in 2017 was $5.75 billion. There were 305 million shares outstanding, trading at $21 per share.
A. Estimate the cash flows to equity in 2018 and 2019. (6 points)
B. Assuming that net income and the expenditure increase 4%, and that working capital remains unchanged in 2020, estimate the projected cash flows to equity in 2020. (The firm is assumed to be at its optimal financial leverage.) (3 points)
C. How would your answer in (B) change if the firm planned to reduce its debt ratio to zero in 2020 by financing 100% of its capital expenditures (net of depreciation) with new equity issues? (3 points)
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more