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CASE 1 (35 points) The 2019 financial statements for Assol Corporation follow. Assets, costs, and current...
CASE 1 (35 points) The 2019 financial statements for Assol Corporation follow. Assets, costs, and current...
CASE 1 (35 points) The 2019 financial statements for Assol Corporation follow. Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 15 percent. The firm is operating at full capacity and no new debt or equity is issued. Income Statement Balance Sheet Sales $7.900 Current assets $3,900...
CASE 1 (35 points) The 2019 financial statements for Assol Corporation follow. Assets, costs, and current...
CASE 1 (35 points) The 2019 financial statements for Assol Corporation follow. Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year’s sales are projected to increase by exactly 15 percent. The firm is operating at full capacity and no new debt or equity is issued. income statement Balance sheet Sales $7,900 Current assets $3,900...
The 2019 financial statements for Growth Industries are presented below. Sales and costs are projected to...
The 2019 financial statements for Growth Industries are
presented below.
Sales and costs are projected to grow at 30% a year for at least
the next 4 years. Both current assets and accounts payable are
projected to rise in proportion to sales. The firm is currently
operating at 75% capacity, so it plans to increase fixed assets in
proportion to sales. Interest expense will equal 10% of long-term
debt outstanding at the start of the year. The firm will maintain...
The 2019 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2019 Sales Costs EBIT...
The 2019 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2019 Sales Costs EBIT Interest expense Taxable income Taxes (at 21%) Net income Dividends $17,380 Addition to retained earnings $17,380 $210,000 155,000 $ 55,000 11,000 $ 44,000 9,240 $ 34,760 Assets Current assets Cash Accounts receivable Inventories Total current assets Net plant and equipment $ 11,000 $ 11,000 110,000 BALANCE SHEET, YEAR-END, 2019 Liabilities Current liabilities $ 4,000 Accounts payable 9,000 Total current liabilities 27,000 Long-term debt $...
Using S&S Air financial statements for 2018 below, prepare proforma (forecast) for 2019 financial statements and...
Using S&S Air financial statements for 2018 below, prepare proforma (forecast) for 2019 financial statements and calculate the External Financing Needed (EFN) for the company. S&S Air, Inc 2018 Income Statement Sales $46,298.115 Cost of goods sold 34,536,913 Other expenses 5,870.865 Depreciation 2074.853 $ 3.815.484 EBIT Interest 725.098 S 3,090.386 Taxable income 772 597 Taxes (21%) $ 2.317.799 Net income s 705,000 Dividends Add to retained earnings 1.612.789 S&S Air. Inc 2018 Balance Sheet Liabilities and Equity Assets Current assets...
FINANCE 4: Questions Question 1 (of 10) value 10.00 points The most recent financial statements for...
FINANCE 4: Questions Question 1 (of 10) value 10.00 points The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes) Income Statement Sales Costs Balance Sheet 9,600 Assets$16,000 Debt 7,470 S 4,000 12,000 Equity Net income $2,130 Total 16,000 Total 16,000 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $11,904 What is the external financing needed? (Do not round intermediate...
The most recent financial statements for 7 Seas, Inc. are shown here: Current assets Fixed assets...
The most recent financial statements for 7 Seas, Inc. are shown here: Current assets Fixed assets Income Statement Sales $4,600 Costs 3,840 Taxable income 760 Taxes (35%) 266 Net income 494 Balance Sheet $6,084 Current liabilities 5,183 Long-term debt Equity $11,267 Total $1,244 2,487 7,536 $11,267 Total Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 50 percent dividend payout ratio. Like every other form in its industry, next...
3. Income Statement Sales Costs Balance Sheet Current 3,900 liabilities assets Current 2,100 assets 8,600 Long-term...
3.
Income Statement Sales Costs Balance Sheet Current 3,900 liabilities assets Current 2,100 assets 8,600 Long-term 3,700 5,500Fixed debt Taxable income $2,400 Equity 6,700 Taxes (25%) 600 Total $12,500 Total $12,500 Net income $ 1,800 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 15 percent. What...
SCOTT, INC. Balance Sheet as of December 31, 2019 Assets Liabilities and Owners' Equity Current assets...
SCOTT, INC. Balance Sheet as of December 31, 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 20,640 Accounts payable $ 54,800 Accounts receivable 43,580 Notes payable 14,000 Inventory 91,960 Total $ 68,800 Total $ 156,180 Long-term debt $ 130,000 Fixed assets Net plant and equipment $423,000 Owners' equity Common stock and paid-in $114.500 surplus Retained earnings 265,880 Total $380,380 Total assets $ 579,180 Total liabilities and owners' equity $ 579,180 If the firm is operating at...
December 31, 2020, 2019, 2018 (in millions) Current assets Other assets Total assets Current liabilities Long-term...
December 31, 2020, 2019, 2018 (in millions) Current assets Other assets Total assets Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity 2020 $ 707 2,419 $3,126 $ 583 1,530 1,013 $3,126 2019 $ 939 1,926 $2,865 $ 836 997 1,032 $2,865 2018 $ 793 1,725 $2,518 $ 724 870 924 $2,518 points eBook Print 2019 WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 Income statement...
CASE 1 (35 points) The 2019 financial statements for Assol Corporation follow. Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 15 percent. The firm is operating at full capacity and no new debt or equity is issued. Income Statement Balance Sheet Sales $7.900 Current assets $3,900...
The 2019 financial statements for Growth Industries are
presented below.
Sales and costs are projected to grow at 30% a year for at least
the next 4 years. Both current assets and accounts payable are
projected to rise in proportion to sales. The firm is currently
operating at 75% capacity, so it plans to increase fixed assets in
proportion to sales. Interest expense will equal 10% of long-term
debt outstanding at the start of the year. The firm will maintain...
The 2019 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2019 Sales Costs EBIT Interest expense Taxable income Taxes (at 21%) Net income Dividends $17,380 Addition to retained earnings $17,380 $210,000 155,000 $ 55,000 11,000 $ 44,000 9,240 $ 34,760 Assets Current assets Cash Accounts receivable Inventories Total current assets Net plant and equipment $ 11,000 $ 11,000 110,000 BALANCE SHEET, YEAR-END, 2019 Liabilities Current liabilities $ 4,000 Accounts payable 9,000 Total current liabilities 27,000 Long-term debt $...
Using S&S Air financial statements for 2018 below, prepare proforma (forecast) for 2019 financial statements and calculate the External Financing Needed (EFN) for the company. S&S Air, Inc 2018 Income Statement Sales $46,298.115 Cost of goods sold 34,536,913 Other expenses 5,870.865 Depreciation 2074.853 $ 3.815.484 EBIT Interest 725.098 S 3,090.386 Taxable income 772 597 Taxes (21%) $ 2.317.799 Net income s 705,000 Dividends Add to retained earnings 1.612.789 S&S Air. Inc 2018 Balance Sheet Liabilities and Equity Assets Current assets...
FINANCE 4: Questions Question 1 (of 10) value 10.00 points The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes) Income Statement Sales Costs Balance Sheet 9,600 Assets$16,000 Debt 7,470 S 4,000 12,000 Equity Net income $2,130 Total 16,000 Total 16,000 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $11,904 What is the external financing needed? (Do not round intermediate...
The most recent financial statements for 7 Seas, Inc. are shown here: Current assets Fixed assets Income Statement Sales $4,600 Costs 3,840 Taxable income 760 Taxes (35%) 266 Net income 494 Balance Sheet $6,084 Current liabilities 5,183 Long-term debt Equity $11,267 Total $1,244 2,487 7,536 $11,267 Total Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 50 percent dividend payout ratio. Like every other form in its industry, next...
3.
Income Statement Sales Costs Balance Sheet Current 3,900 liabilities assets Current 2,100 assets 8,600 Long-term 3,700 5,500Fixed debt Taxable income $2,400 Equity 6,700 Taxes (25%) 600 Total $12,500 Total $12,500 Net income $ 1,800 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 15 percent. What...
SCOTT, INC. Balance Sheet as of December 31, 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 20,640 Accounts payable $ 54,800 Accounts receivable 43,580 Notes payable 14,000 Inventory 91,960 Total $ 68,800 Total $ 156,180 Long-term debt $ 130,000 Fixed assets Net plant and equipment $423,000 Owners' equity Common stock and paid-in $114.500 surplus Retained earnings 265,880 Total $380,380 Total assets $ 579,180 Total liabilities and owners' equity $ 579,180 If the firm is operating at...
December 31, 2020, 2019, 2018 (in millions) Current assets Other assets Total assets Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity 2020 $ 707 2,419 $3,126 $ 583 1,530 1,013 $3,126 2019 $ 939 1,926 $2,865 $ 836 997 1,032 $2,865 2018 $ 793 1,725 $2,518 $ 724 870 924 $2,518 points eBook Print 2019 WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 Income statement...
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