15. Use the below information to answer the following question. |
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Income Statement |
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For the Year |
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Sales |
$42,700 |
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Cost of goods sold |
29,250 |
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Depreciation |
3,750 |
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|
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Earnings before interest and taxes |
$ 9,700 |
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Interest paid |
1,360 |
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|
||||||
Taxable income |
$ 8,340 |
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Taxes |
2,840 |
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|
||||||
Net income |
$ 5,500 |
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|
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Dividends $1,925 |
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Balance Sheet |
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End-of-Year |
||||||
Cash |
$1,320 |
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Accounts receivable |
3,780 |
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Inventory |
10,200 |
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|
||||||
Total current assets |
$15,300 |
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Net fixed assets |
33,600 |
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|
||||||
Total assets |
$48,900 |
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|
||||||
Accounts payable |
$ 3,650 |
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Long-term debt |
18,100 |
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Common stock ($1 par value) |
15,000 |
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Retained earnings |
12,150 |
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|
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Total Liab. & Equity |
$48,900 |
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|
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Assume this firm is operating at full capacity. Also assume that assets, costs, and current liabilities vary directly with sales. The dividend payout ratio is constant. What is the external financing need if sales increase by 14 percent? |
15. Use the below information to answer the following question. Income Statement For the Year Sales...
Question Completion Status: Income Statement For the Year Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income $42,700 29,250 3,750 $ 9,700 1,360 $ 8,340 Taxes 2,840 Net income $ 5,500 Dividends $1,925 Balance Sheet End-of-Year Cash Accounts receivable Inventory Total current assets $ 1,320 3,780 10,200 $15,300 33,600 $48,900 Net fixed assets Total assets $ 3,650 18,100 Accounts payable Long-term debt Common stock ($1 par value) Retained earnings 15,000 12.150 End-of-Year Cash $...
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Use the below information to answer the following question Net sales COGS Depreciation Income Statement For the Year $631,000 442.220 28.100 EBIT Interest $160.700 14.900 Taxable income $145 800 Taxes 49,600 Net income $96.200 Balance Sheet Cash Accounts receivable Inventory Net fixed assets Beginning End of Year of Year $ 38,200 $43,700 91,400 86,150 203,900 214,600 516,100 | 537,950 Total assets $849,800 $882,400 Accounts payable Long-term debt Common stock ($1 par value) Retained earnings $136.100 329,500 75,000 309.000 $104.300 298,200...
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