The following is extracted from Dell's balance sheet at January 31, 2003 (in millions of dollars): Net financial assets 9,167Common equity (2,579 million shares outstanding) 4,873 Analysts are forecasting consensus earnings per share of $1.01 for the year ending January 31, 2004. a. Calculate net operating assets at January 31, 2003. b. Net financial assets are expected to earn an after-tax return of 40% in 2004. what is the forecast of operating income implicit in the analysts' eps forecast? c. Forecast the residual operating income for 2004 that is implicit in the analysts' forecast. Use a required annual return for operations of 9%. d. Dell's shares are currently trading at $34 each. With the above information, value the shares under the following set of scenarios using residual income methods: (i) Sales will grow at 5% per year after 2004. (ii) operating assets and operating liabilities with both grow at 5% per year after (ii) Operating profit margins (after tax) will be the same as these forecasted for 2004. e. Under the same scenarios, forecast free cash flow for 2004. 2003.

The cost of capital: introduction the cost of capital: introduction companies issue bonds, preferred stock, and common equity to aise capital to invest in capital budgeting projects. capital is』necessary factor of production and like any other factor, it has a cost. this cost is equal to the select the applicable security. the rates of return that investors require on bonds, preferred stocks, and common equity represent the costs of those securities to the firm. companies estimate the required returns on their securities, calculate a weighted average of the costs of their different types of capital, and use this average cost for capital budgeting purposes. required return on rate: when calculating om operations when the firm's primary financial objective is to select shareholder value. to do this, companies invest in projects that earnselect their cost of capital. so, the cost of capital is often referred to as the -select -select and accruals, which a se spontaneously we hted average cost of capital wa c our concern is with capital that must be provided by select- 쑤 interest-bearing debt preferred stock and common equity. capital budgeting projects are undertaken, are not included as part of total invested capital because they do not come directly from investors. which of the following would be included in the caculation of total invested capital? choose the response that is most correct a. notes payable b. taxes payable c retained earnings d. responses a and c would be included in the calculation of total invested capital. e. none of the above would be included in the cakulation of total invested capital.

Beswick company your team is allocated a project involving a major client, the beswick company. although the organization has many clients, this client, and project, is the largest source of revenue and affects the work of several other teams in the organization. the project requires continuous involvement with the client, so any problems with the client are immediately felt by others in the organization. jamie, a member of your team, is the only person in the company with whom this client is willing to deal. it can be said that jamie has:

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.