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1. Last year Rattner Robotics had $5 million in operating income (EBIT). The company had net depreciation expense of $1 million and an interest expense of $1 million; its corporate tax rate was 40 percent. The company has $14 million in current assets and $4 million in non-interest-bearing current liabilities; it has $15 million in net plant and equipment.

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UNIT IBusiness Finance: Introduction Meaning Concepts -Scope Function of Finance Traditionaland Modern Concepts Contents of Modern Finance Functions.IntroductionIn our present day economy, finance is defined as the provision of money at the time when it isrequired. Every enterprise, whether big, medium or small, needs finance to carry on itsoperations and to achieve its targets. In fact, finance is so indispensable today that it is rightlysaid to be the lifeblood of an enterprise.The subject of finance has been traditionally classified into two classes: (i) Public Finance and(ii) Private Finance. Public finance deals with the requirements, receipts and disbursements offunds in the government institutions like states, local self governments and central government.Private finance is concerned with requirements, receipts and disbursements of funds in case of anindividual, a profit seeking business organisation and a non profit organisation. Thus, privatefinance can be classified into: (i) Personal finance (ii) Business Finance and (iii) Finance of nonprofit organisations.FINANCEPUBLIC FINANCEGovernment institutionsState GovernmentsLocal Self-GovernmentsCentral GovernmentsPRIVATE FINANCEPersonal FinanceBusiness FinanceFinance of Non-ProfitOrganisationsMeaning of FinanceThe word finance was originally a French word. In the 18th century, it was adapted by Englishspeaking communities to mean the manag

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