Question

Home Insert Draw Page Layout rormulas Calibri = = = 11 A A QA - ♡ BI U 3 board Alignment Font E : x ✓ fx NO CHAPTER 3 ASSIGNMENT CHAPMAN, INC INCOME STATEMENT, BALANCE SHEET AND RELATED INFORMATION FOR THE YEAR ENDED AND AS OF DECEMBER 31, 2018 Sales $ 891,600 Assets Liabilities and owners' equity Costs 6321600 Current assets Current liabilities Other expenses 18.240 Cash $ 24280 Accounts payable 65.200 EBIT 37,070 Accounts receivable 16220 Notes payable Interest expense 31400 Inventory BELO Total BILO Taxable income Total 100 Long-term debt $ 155,000 Tages 58,226 Feed assets Net income Net plant and Owners' equity equipment $ 396 500 Common stock and Dividends paid-in surplus $ 130,000 Add to retained earnings 72.450 Retained earnings 174.730 Total $ 304,730 Total abilities and Sales increase 20.000 Total assets owners' equity Tastate REQUIRED Complete all information in the cells shaded 12 points each) and (3 points each) ASSUMPTIONS: Interest expense and the dividend parool rate will remais constant. Cests, other expenses, current assets, hired and accounts pacate will increase ar the same rate as sales. Neser dear or equity will be issued CHAPATAN INC PRO FORMA INCOME STATEMENT AND BALANCE SHEET FOR THE YEAR ENDED DECEMBER 31, 2013 Dividend payout ratio 2019 Pro Forma Income Statement Sales Costs Other expenses EBIT Interest expense Taxable income Taxes Net income Dividends Add. To RE Assets Current assets Cath Accounts receivable Inventory Total Fixed assets Net plant and equipment Liabilities and owners' equity Currenties Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Totabilities and camarpuly| Total assets External financing required to support 2006 growth Sheet1 Scroll Lock Type here to search

Sales increase is 20% (growth rate of sales)

Answer 1

Proforma Income Statement and Balance Sheet
For the year ended December 31, 2019
Dividend payout ratio	33.00%
(Dividend/Net Income)
Proforma Income statement 2019		Assets		Liabilities and Owners equity
Sales(up by 20%)	$      1,069,920	Current assets (up 20%)		Current Liabilities
Costs(up by 20%)	$          832,320	cash	$         29,136	Accounts payable (up 20%)	$    78,240
Other Expenses(up by 20%)	$            21,888	Account receivables	$         44,484	Notes payable	$    16,320
EBIT	$          215,712	Inventory	$      100,080	Total	$    94,560
Interest Expense	$            13,400	Total	$      173,700	Long term Debt (b/f)	$ 162,103
Taxable income	$          202,312	Fixed assets (up 20%)		Owners equity
Taxes@35%	$            70,809	Net plant and Equipment	$      475,800	Common stock and paid in surplus	$ 130,000
Net income	$          131,503			Retained Earnings (after adding 88107)	$ 262,837
				Total	$ 392,837
Dividend	$            43,396
Add to Retained Earnings	$            88,107	Total Assets	$      649,500	Total liabilities and owners equity	$ 649,500
External Financing to support 20% growth in sales	$              7,103