Proforma income statement | |||
Particulars | Amount | ||
Sales (1500000*114%) | $ 1,710,000 | ||
Less: Costs (350000*114%) | $ 399,000 | ||
Net income (1710000-1311000) | $ 1,311,000 | ||
Proforma Balance Sheet | |||
Assets | Amount | Liabilities | Amount |
Assets | $ 798,000 | Debt | $ 684,000 |
(700000*114%) | (600000*114%) | ||
Equity | $ 114,000 | ||
(100000*114%) | |||
$ 798,000 | $ 798,000 | ||
Cash dividend | |||
Net income | 1311000 | ||
Less : increase in Equity | 14000 | ||
(114000-100000) | |||
Cash dividend | 1297000 |
19:10 Percent of sales: Given the data for Cattail Corporation in Problem 19 9, if you...
19.10 Percent of sales: Given the data for Cattail Corporation in Problem 19.9, if you assume that all balance sheet items also vary with the change in sales, develop a pro forma balance sheet for Cattail for the next fiscal year. Assuming that the firm did not sell or repurchase stock, what is the cash dividend implied by the pro forma income statement and balance sheet? Percent of sales: Cattail Corporation's financial statements for the fiscal year just ended are...
19.10 Percent of sales: Given the data for Cattail Corporation in Problem 19.9, if you assume that all balance sheet items also vary with the change in sales, develop a pro forma balance sheet for Cattail for the next fiscal year. Assuming that the firm did not sell or repurchase stock, what is the cash dividend implied by the pro forma income statement and balance sheet? Percent of sales: Cattail Corporation's financial statements for the fiscal year just ended are...
Pharoah Corporation’s financial statements for the fiscal year just ended are shown below: Cattail Corporation Financial Statements for Fiscal Year Just Ended ($ thousands) Income Statement Balance Sheet Net sales $1,300 Assets $700 Debt $570 Costs 350 Equity $130 Net income $950 Total $700 Total $700 Pharoah management expects sales to increase by 12 percent next year. Assume that the financial statement accounts vary directly with changes in sales and that management has no financing plan at this time. Given...
1.Forma Statements [LO1] Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Balance Sheet Sales $38,000 Assets $27,300 Debt $ 6,700 Costs 32,600 Equity 20,600 Net income $ 5,400 Total $27,300 Total $27,300 The company has predicted a sales increase of 15 percent. It has predicted that every item on the balance sheet will increase by 15 percent as well. Create the pro forma statements and reconcile them. What is the plug variable...
Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): The company has predicted a sales increase of 15 percent. Assume Wims pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements. (Input all amounts as positive values. Do not round intermediate calculations.) Determine the external financing needed. (Do not round intermediate calculations. A negative answer...
1. Consider the following simplified financial statements for York Corporation. The company has predicted a sales increase of 15%. It has predicted that every item on the balance sheet will increase by 15% as well. Create the pro forma statements = and reconcile them Income Statement Sales $36,000 Costs of goods $29,800 Net Income $6,200 Balance Sheet Assets $26,400 Debt $6,300 Equity $20,100 Total Assets $26,400 Total Liab's & Equity $26,400 2. Assume York Corp. (above) pays out...
Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes): Income Statement Balance Sheet Sales $ 46,900 Assets $ 22,700 Debt $ 6,700 Costs 41,140 Equity 16,000 Net income $ 5,760 Total $ 22,700 Total $ 22,700 The company has predicted a sales increase of 18 percent. Assume Fire pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the...
S04-01 Pro Forma Statements [LO1] Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes) Income Statement Sales $38,000 Balance Sheet Assets $27,300 Debt 6,700 Equity 20,600 Costs 32,600 Net income 5,400 Total $27,300 Total $27,300 The company has predicted a sales increase of 15 percent. It has predicted that every item on the balance sheet will increase by 15 percent as well Create the pro forma statements and reconcile them. (Input all amounts as positive...
Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Sales $34,000 Costs 27,330 Assets Balance Sheet $26,500 Debt Equity $ 7.000 19,500 Net income $ 6,670 Total $26,500 Total $26,500 The company has predicted a sales increase of 15 percent. Assume the company pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements....
Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes): Income Statement Sales Costs Balance Sheet $6,650 15,500 $33,200 Assets $22,150Debt 25,440 Equity Net income $ 7,760 Total $22,150 Total $22,150 The company has predicted a sales increase of 16 percent. Assume Yoo pays form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. out half of net income in the Prepare the pro forma statements. (Input all amounts...