问答题

B公司上年财务报表主要数据如下:
单位:万元
收入
2000
税后利润
200
股利
120
收益留存
80
年末负债
1800
年末股东权益
1200
年末总资产
3000
要求回答下列互不相关的问题:
(1)假设该公司今年计划销售增长率是10%,其他财务比率不变,销售不受市场限制,销售净利率涵盖了增加负债的利息,并且公司不打算发行新的股份或回购股票。计算收益留存率达到多少时可以满足销售增长所需资金。
(2)如果计划销售增长率为15%,不变的销售净利率可以涵盖增加负债的利息,销售不受市场限制,并且不打算改变当前的资本结构、收益留存率和经营效率。计算应向外部筹集多少权益资金。

【参考答案】

(1)因为销售净利率不变,所以:
净利润增长率=销售增长率=10%
今年净利润=200×(1+10%......

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