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Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement...
Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Balance Sheet Sales $ 34,000 Assets $ 26,500 Debt $ 7,000 Costs 27,330 Equity 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...
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...
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...
Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes): Balance Sheet Income Statement Sales Costs $33,600 Assets $24,350 Debt 6,850 17,500 27,800 Equity Net income 5,800 Total $24,350 Total $24,350 The company has predicted a sales increase of 20 percent. Assume Yoo 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...
Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement ♡ Balance Sheet Sales $33,600 Assets $24,350 Debt $ 6,850 Costs 27,800 Equity 17,500 Net income $ 5,800 Total $24,350 Total $24,350 The company has predicted a sales increase of 20 percent. It has predicted that every item on the balance sheet will increase by 20 percent as well. Create the pro forma statements and reconcile them. (Input all answers as positive values. Do...
S04-02 Pro Forma Statements and EFN (LO1, 2] Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes) Income Statement Balance Sheet Sales Costs $38,000 Assets $27,300 Debt $6,700 Equity 20,600 32,600 Net income 5,400 Total $27,300 Total $27,300 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....
Consider the following simplified financial statements for the Steveston Corporation (assuming no income taxes): Statement of Comprehensive Income Statement of Financial Position Sales $ 32,000 Assets $ 25,300 Debt $ 5,800 Costs 24,400 Equity 19,500 Net income $ 7,600 Total $ 25,300 Total $ 25,300 Steveston has predicted a sales increase of 15 percent. Assume Steveston pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do...
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 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...
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. (Input all amounts as...