Judd Enterprises These are the simplified financial statements for Judd Enterprises. Income statement Current Projected Sales...
| Judd Enterprises | ||||||
| These are the simplified financial statements for Judd Enterprises. | ||||||
| Income statement | Current | Projected | ||||
| Sales | na | 1,000 | ||||
| Costs | na | 720 | ||||
| Profit before tax | na | 280 | ||||
| Taxes (25%) | na | 70 | ||||
| Net income | na | 210 | ||||
| Dividends | na | 63 | ||||
| Balance sheets | Current | Projected | Current | Projected | ||
| Current assets | 100 | 115 | Current liabilities | 70 | 81 | |
| Net fixed assets | 900 | 1,080 | Long-term debt | 400 | ||
| Common stock | 300 | |||||
| Retained earnings | 230 | |||||
Refer to the Judd Enterprises financial statements. What is Judd's
projected retained earnings under this plan?
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Homework Answers
Projected retained earnings = Current retained earnings + (Net Income – Dividends)
= 230 + (210-63)
= 377
Hence, the answer is d.$377
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Judd Enterprises
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