ZuoTi.Pro
Question

Last years financial statements for VanDiest Chemical are below. VanDiest is expecting sales to grow by 15 percent this year. Their tax rate is 35 percent and their dividend payout rate is expected to remain at 25 percent. Costs, selling and administration expense, current assets, accounts payable, and accrued taxes increase proportionally with sales. Interest expense, notes payable, and long-term debt will be unchanged. VanDiest is operating at full capacity. Income Statement Last Year Sales Costs of goods sold Selling and admin. expense Earnings before interest & taxes Interest expense Earnings before taxes Taxes 780,000 483,600 140,400 156,000 39,000 117,000 40,950 Net income 76,050 Dividends 19,013 Additions to retained earnings 57,038Balance Sheet Assets Liabilities and Owners Equity Cash 39,000 85,800 93,600 218,400 62,400 Accounts payable Notes payable Accrued taxes payable Accounts receivable 78,000 15,600 156,000 Inventory Total current assets Total current liabilities Plant and equipment 507,000 Long-term debt 319,800 Common stock 62,400 187,200 249,600 Retained earnings Total owners equity Total assets 725,400 Total liabilities & owners equity 725,400 What is the external financing needed?

business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

Home nert Page Layout Formulas Data Review View dd-Ins Cut aCopy Σ AutoSum ー E ゴWrap Text B า 프 . Ej-., Δ. : r_一 逻锂函Merge & Center. $, % , 弼,8 conditional Format . Cell Insert Delete Format Paste Sort &Find & Format Painter Formatting as Table Styles2 Clear Clipboard Font Alignment Number Styles Cells Edting IP361 IG IJ IK IL IM IN IO IP IQ IR 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 VANDIEST INCOME STATEMENT CURRENT NEXT YEAR YEAR 15% INCREASE 780000 897000 11366 (1+0.15) 483600 556140 11367 (1+0.15) 140400 161460 11368 *(1+0.15) 156000 179400 SALES COSTS S&A EXPENSES EBIT INTEREST EBT TAX NET INCOME DIVIDEND ADDITION TO RETAINED EARNINGS 39000 39000 117000 140400 49140 40950 76050 91260 19013 57037 22816 25% OF NET INCOME 68444 FORECASTED BALANCESHEET TOTAL ASSETS TOTAL LIABILITIES & EQUITY CURRENT NEXT YEAR YEAR 커 AFN BANKINGNOTE BIDDING UNDERWRITING EUAC AW PM LIFE LP IP MRP INFLATION YIELD WARRANT fund bond CLEAN INVOICE PRICE Sheet1 Sheet3 14 - - erences: 1193 07:14Home nert Page Layout Formulas Data Review View dd-Ins Cut 11.A. A. ー E ゴText 9-ずWrap Text General Copy er笛溜Conditional Format tal Insert Delete F matl,Autos m37 A в 1 프 . Ej-., Δ. : rーー 逻锂函Merge & Center. $, % , 弼,8 Conditional Format eCell Insert Delete Format Paste Format Painter B 2 ClearFe Select Edting Formatting, as Table w styles. ▼ ㆆ ▼ Clipboard Font Alignment Number Cells IL394 IG 377 378 379 380 CASH 381 382 383 384 385 386 387 388 389 390 391 392 EFN FOR CURRENT YEAR TOTAL ASSETS- TOTAL EQUITY - LONG TERM DEBT CURRENT LIABILITIES 393 394 395 ANS EFN=28666 IH IJ IK ILI IM IN IO IP RT IR FORECASTED BALANCESHEET TOTAL ASSETS CURRENT NEXT YEAR TOTAL LIABILITIES & EQUITY YEAR 44850 15% INCREASE 98670 15% INCREASE 107640 15% INCREASE 251160 15% INCREASE ACCOUNTS PAYABLE NOTES PAYABLE ACCURED TAXES TOTAL EFN LONG TERM DEBT OWNERS EQUITY COMMON STOCK RETAINED EARNINGS TOTAL TOTAL LIABILITIES & EQUITY RECEIVABLES INVENTORIES TOTAL 39000 85800 93600 218400 62400 78000 15600 71760 15% INCREASE 78000 17940 15% INCREASE 156000 167700 28666 (BALANCING FIGURE) 319800 31980O NET FIXED ASSETS 507000 583050 15% INCREASE 62400 62400 187200 255644 (187200 +68444) 249600 318044 725400 TOTAL 725400 834210 15% INCREASE 834210 EFN FOR CURRENT YEAR 834210-318044-319800 -149760- 28666 N BANKING NOTE BIDDING, UNDERWRITING EUAC AW PM LIFE LP, IP, MRP, INFLATION YIELD WARRAN Trefund bondCLEAN INVOICE PRICE SheetlSheet3 S erences: ม98 0-01-2019

0 0
Add a comment
Know the answer?
Add Answer to:
Last year's financial statements for VanDiest Chemical are below. VanDiest is expecting sales to grow by...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • please help thanks Last year's financial statements for VanDiest Chemical are below. VanDiest is expecting sales...

    please help thanks Last year's financial statements for VanDiest Chemical are below. VanDiest is expecting sales to grow by 15 percent this year. Their tax rate is 25 percent and their dividend payout rate is expected to remain at 25 percent. Costs, selling and administration expense, current assets, accounts payable, and accrued taxes increase proportionally with sales. Interest expense. notes payable, and long-term debt will be unchanged. Van Diest is operating at full capacity Income Statement Last Year Sales 780,000...

  • Last year's financial statements for VanDiest Chemical are below. VanDiest is expecting sales to grow by...

    Last year's financial statements for VanDiest Chemical are below. VanDiest is expecting sales to grow by 20 percent this year. Their tax rate is 25 percent and their dividend payout rate is expected to remain at 25 percent. Costs, selling and administration expense, current assets, accounts payable, and accrued taxes increase proportionally with sales Interest expense, notes payable, and long-term debt will be unchanged. VanDiest is operating at full capacity Income Statement Last Year Sales 700,000 434,000 126,000 140,000 35,000...

  • Last year's financial statements for Weaver Textiles are below. Sales are expected to grow by 15...

    Last year's financial statements for Weaver Textiles are below. Sales are expected to grow by 15 percent this year. Their tax rate and dividend payout ratio will be the same in the future. Costs, selling and administration expense, current assets, accounts payable, and accrued taxes increase proportionally with sales. Interest expense, notes payable, and long-term debt will be unchanged. Weaver is operating at 92 percent capacity Income Statement Last Year Sales Costs of goods sold Selling and admin. expense Earnings...

  • Last year's financial statements for Heller Carbonic are below. Sales are expected to grow by 20...

    Last year's financial statements for Heller Carbonic are below. Sales are expected to grow by 20 percent this year. Their tax rate is 25 percent and their retention ratio is expected to remain at 60 percent. Costs, selling and administration expense, current assets, accounts payable, and accrued taxes increase proportionally with sales. Interest expense, notes payable, and long-term debt will be unchanged. Heller is operating at 90 percent capacity Income Statement Last Year Sales Costs of goods sold Selling and...

  • Last year's financial statements for Knoll Consulting are below. Sales are expected to grow by 20...

    Last year's financial statements for Knoll Consulting are below. Sales are expected to grow by 20 percent this year. Their tax rate and dividend payout ratio will be the same in the future Costs, selling and administration expense, current assets, accounts payable, and accrued taxes increase proportionally with sales Interest expense, notes payable, and long-term debt will be unchanged. Knoll is operating at 88 percent capacity Income Statement Last Year Sales 400,000 140,000 76,000 Costs of goods sold Selling and...

  • Last year's financial statements for Weaver Textiles are below. Sales are expected to grow by 15...

    Last year's financial statements for Weaver Textiles are below. Sales are expected to grow by 15 percent this year. Their tax rate and dividend payout ratio will be the same in the future Costs, selling and administration expense, current assets, accounts payable, and accrued taxes increase proportionally with sales Interest expense, notes payable, and long-term debt will be unchanged. Weaver is operating at 90 percent capacity Income Statement Last Year Sales 700,000 385,000 182,000 133,000 84,000 49,000 12,250 36,750 Costs...

  • Last year's financial statements for Heller Carbonic are below. Sales are expected to grow by 20...

    Last year's financial statements for Heller Carbonic are below. Sales are expected to grow by 20 percent this year. Their tax rate is 35 percent and their retention ratio is expected to remain at 60 percent. Costs, selling and administration expense, current assets, accounts payable, and accrued taxes increase proportionally with sales Interest expense, notes payable, and long-term debt will be unchanged. Heller is operating at 85 percent capacity Income Statement Last Year Sales 1,250,000 750,000 250,000 250,000 125,000 125,000...

  • Last Year’s financial statements for Weaver Textiles are b Last year's financial statements for Weaver Textiles...

    Last Year’s financial statements for Weaver Textiles are b Last year's financial statements for Weaver Textiles are below. Sales are expected to grow by 15 percent this year. Their tax rate and dividend payout ratio will be the same in the future. Costs, selling and administration expense, current assets, accounts payable, and accrued taxes increase proportionally with sales. Interest expense, notes payable, and long-term debt will be unchanged. Weaver is operating at 95 percent capacity. Income Statement Last Year Sales...

  • The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow...

    The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $ 759,000 594,000 30,000 $ 135,000 Earnings before interest and taxes Interest paid 26,000 Taxable income Taxes (21%) $ 109,000 22,890 Net income...

  • The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow...

    The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 30 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable increase spontaneously with sales. ****What is the EFN? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $746,000 581,000 17,000 Earnings...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT