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Jack · 2022年06月27日

net income change

  1. CFA I
  2. Corporate Issuers

NO.PZ2016091001000011

问题如下：

Assume that CC Inc. has $360,000 operating income in the early stages, and the operating income has changed as $420,000 later. The financial cost is $120,000. So the CC Inc.'s degree of financial leverage(DFL) is closest to :

选项：

A.

1.3.

B.

1.8.

C.

1.5.

解释：

C is correct.

The operating income percentage change=$420,000−$360,000$360,000\frac{\$420,000-\$360,000}{\$360,000}=16.67%

The net income percentage change=($420,000−$120,000)−($360,000−$120,000)$360,000−$120,000\frac{\left(\$420,000-\$120,000\right)-\left(\$360,000-\$120,000\right)}{\$360,000-\$120,000}=25%

DFL =The  net  income  percentage  changeThe  operating  income  percentage  change=25%16.67%\frac{The\;net\;income\;percentage\;change}{The\;operating\;income\;percentage\;change}=\frac{25\%}{16.67\%}=1.5

net income percentage change這邊的分母不太理解

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1 个答案

王琛_品职助教 · 2022年06月28日

嗨，从没放弃的小努力你好：


net income percentage change 等于 NI 的变化量除以 NI

所以分母是 NI，即 NI = EBIT - Interest = 360000 - 120000 = 240000

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