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ALCO Company has the following information: Sales $98,000 Costs $74,000 Net Income $24,000 Total Assets $43,000...
ALCO Company has the following information Sales $98,000 Costs $74.000 Net Income $24,000 Total Assets $43,000...
ALCO Company has the following information Sales $98,000 Costs $74.000 Net Income $24,000 Total Assets $43,000 Total Debt $13,000 Total Equity $30,000 ALCO has predicted a sales increase of 10% and that every item will increase by 10% as well. Create the pro forma statement and reconcile them. What is the plug variable and how much? Select one a Dividend is a plug variable, amount $24300 b. Dividend is a plug variable, amount $23,100 c Debtis a plug variable amount...
Income Statement Sales $ 46,100 Costs 39,630 Balance Sheet Assets $24,300 Debt $ 6,300 Equity 18,000...
Income Statement Sales $ 46,100 Costs 39,630 Balance Sheet Assets $24,300 Debt $ 6,300 Equity 18,000 Net income $ 6,470 Total $24,300 Total $24,300 The company has predicted a sales increase of 10 percent. It has predicted that every item on the balance sheet will increase by 10 percent as well. Create the pro forma statements and reconcile them. (Input all answers as positive values. Do not round intermediate calculations.) Assets Pro forma income statement Sales Costs Net income Pro...
Income Statement Sales $ 29,700 Costs 22,020 Balance Sheet Assets $24,850 Debt Equity $ 6,350 18,500...
Income Statement Sales $ 29,700 Costs 22,020 Balance Sheet Assets $24,850 Debt Equity $ 6,350 18,500 Net ncome $ 7,680 Total $24,850 Total $24,850 The company has predicted a sales increase of 10 percent. It has predicted that every cem on the balance sheet will increase by 10 percent as well. Create the pro forma statements and reconcile them. (Input all answers as positive alues. Do not round intermediate calculations.) Answer is complete but not entirely correct. Assets $ $...
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 $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...
Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes): Income Statement...
Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes): Income Statement Sales Costs Balance Sheet $40,000 Assets $26,000 Debt $ 7,000 Equity 19,000 34,160 Net income 5,840 Tot$26,000 Total $26,000 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 amounts as positive values. Do not round intermediate...
S04-01 Pro Forma Statements [LO1] Consider the following simplified financial statements for the Wims Corporation (assuming...
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...
1.Forma Statements [LO1] Consider the following simplified financial statements for the Wims Corporation (assuming no income...
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...
1. Consider the following simplified financial statements for York Corporation. The company has predicted a sales...
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 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 $ 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...
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 $ 30,100 Assets $ 21,050 Debt $ 6,550 Costs 24,380 Equity 14,500 Net income $ 5,720 Total $ 21,050 Total $ 21,050 The company has predicted a sales increase of 14 percent. It has predicted that every item on the balance sheet will increase by 14 percent as well. Create the pro forma statements and reconcile them. (Input all answers as...
ALCO Company has the following information Sales $98,000 Costs $74.000 Net Income $24,000 Total Assets $43,000 Total Debt $13,000 Total Equity $30,000 ALCO has predicted a sales increase of 10% and that every item will increase by 10% as well. Create the pro forma statement and reconcile them. What is the plug variable and how much? Select one a Dividend is a plug variable, amount $24300 b. Dividend is a plug variable, amount $23,100 c Debtis a plug variable amount...
Income Statement Sales $ 46,100 Costs 39,630 Balance Sheet Assets $24,300 Debt $ 6,300 Equity 18,000 Net income $ 6,470 Total $24,300 Total $24,300 The company has predicted a sales increase of 10 percent. It has predicted that every item on the balance sheet will increase by 10 percent as well. Create the pro forma statements and reconcile them. (Input all answers as positive values. Do not round intermediate calculations.) Assets Pro forma income statement Sales Costs Net income Pro...
Income Statement Sales $ 29,700 Costs 22,020 Balance Sheet Assets $24,850 Debt Equity $ 6,350 18,500 Net ncome $ 7,680 Total $24,850 Total $24,850 The company has predicted a sales increase of 10 percent. It has predicted that every cem on the balance sheet will increase by 10 percent as well. Create the pro forma statements and reconcile them. (Input all answers as positive alues. Do not round intermediate calculations.) Answer is complete but not entirely correct. Assets $ $...
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...
Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes): Income Statement Sales Costs Balance Sheet $40,000 Assets $26,000 Debt $ 7,000 Equity 19,000 34,160 Net income 5,840 Tot$26,000 Total $26,000 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 amounts as positive values. Do not round intermediate...
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...
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