Homework Answers
Answer:
| EFN | $ 43,682.50 |
Working:
| EFN[Change in total asset-Change in accounts payable-addition of retained earnings] | (581380*25%)-(54900*25%)-87937.5 |
| Calculation of Retained Earnings | |
| Sales | $ 935,000.00 |
| Costs | $ 728,750.00 |
| Other expenses | $ 23,750.00 |
| Earnings before interest and taxes | $ 182,500.00 |
| Interest paid | $ 15,000.00 |
| Taxable Income | $ 167,500.00 |
| Taxes [25%] | $ 41,875.00 |
| Net Income | $ 125,625.00 |
| Dividends [30%] | $ 37,687.50 |
| Addition to retained Earnings | $ 87,937.50 |
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The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow...
Saved Help Save & Problem 4-24 Calculating EFN [LO2 The most recent financial statements for Crosby,...
Saved Help Save & Problem 4-24 Calculating EFN [LO2 The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 25 percent Interest expense will remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC 2017 Income Statement Sales Costs Other expenses $748 000 583.000 19.000 Earnings before interest and taxes Interest paid $...
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, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $750,000 585,000 21,000 Earnings before interest and taxes Interest paid $ 144,000 17,000 Taxable income Taxes (22%) $ 127,000 27,940 Net...
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 25 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 $ 757,000 Costs 592.000 Other expenses 28,000 Earnings before interest and taxes Interest paid $ 137,000 24,000 Taxable income Taxes (24%) $ 113,000 27,120 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 25 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable Increase spontaneously with sales. CROSBY, INC 2017 Income Statement Sales $755,000 Costs 611,000 Other expenses 25,000 Earnings before interest $ 119,000 and taxes Interest pald 10,800 Taxable income Taxes (22%) $ 108,200 23,804 Net...
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 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $ 980,760 792,960 20,060 Earnings before interest and taxes Interest paid $ 167,740 14,740 Taxable income Taxes (21%) $ 153,000 32,130...
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, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales $ 980,760 Costs 792,960 Other expenses 20,060 Earnings before interest and taxes $ 167,740 Interest paid 14,740 Taxable income $ 153,000 Taxes (21%) 32,130...
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, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales $ 749,000 Costs 584,000 Other expenses 20,000 Earnings before interest and taxes $ 145,000 Interest paid 16,000 Taxable income $ 129,000 Taxes (21%) 27,090...
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, fixed assets, and accounts payable increase spontaneously
with sales.
What is the EFN if the firm wishes to keep its debt-equity ratio
constant? (Do not round intermediate calculations and round
your answer to the nearest whole dollar amount, e.g.,...
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 fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $765,000 621,000 30,000 Earnings before interest and taxes Interest paid $ 114.000 14,800 Taxable income Taxes (229) $ 99,200 21.824 Net...
Saved Help Save & Problem 4-24 Calculating EFN [LO2 The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 25 percent Interest expense will remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC 2017 Income Statement Sales Costs Other expenses $748 000 583.000 19.000 Earnings before interest and taxes Interest paid $...
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, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $750,000 585,000 21,000 Earnings before interest and taxes Interest paid $ 144,000 17,000 Taxable income Taxes (22%) $ 127,000 27,940 Net...
The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 25 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 $ 757,000 Costs 592.000 Other expenses 28,000 Earnings before interest and taxes Interest paid $ 137,000 24,000 Taxable income Taxes (24%) $ 113,000 27,120 Net income...
The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 25 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable Increase spontaneously with sales. CROSBY, INC 2017 Income Statement Sales $755,000 Costs 611,000 Other expenses 25,000 Earnings before interest $ 119,000 and taxes Interest pald 10,800 Taxable income Taxes (22%) $ 108,200 23,804 Net...
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 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, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $ 980,760 792,960 20,060 Earnings before interest and taxes Interest paid $ 167,740 14,740 Taxable income Taxes (21%) $ 153,000 32,130...
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, fixed assets, and accounts payable increase spontaneously
with sales.
What is the EFN if the firm wishes to keep its debt-equity ratio
constant? (Do not round intermediate calculations and round
your answer to the nearest whole dollar amount, e.g.,...
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 fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $765,000 621,000 30,000 Earnings before interest and taxes Interest paid $ 114.000 14,800 Taxable income Taxes (229) $ 99,200 21.824 Net...
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