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8 Consider the following income statement for the Heir Jordan Corporation: Income Statement 10 points Sales...
HEIR JORDAN CORPORATION Income Statement $49,000 40,300 Sales Taxable income Taxes (22%) $8,700 1,914 Net income...
HEIR JORDAN CORPORATION Income Statement $49,000 40,300 Sales Taxable income Taxes (22%) $8,700 1,914 Net income $6,786 Dividends Addition to retained $2,400 4,386 earnings The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank - be certain to enter "o" whenever the item is not a constant...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $ 49,000 Cost 40,300 Taxable income $ 8,700 Taxes (22%) 1,914 Net income $ 6,786 Dividends $ 2,400 Addition to retained earnings 4,386 The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 2,950 Accounts payable $ 2,400 Accounts receivable 4,100 Notes payable 5,400 Inventory 6,400 Total $ 7,800...
Consider the following income statement for the Heir Jordan Corporation: The balance sheet for the Heir...
Consider the following income statement for the Heir Jordan
Corporation:
The balance sheet for the Heir Jordan Corporation
follows.
Prepare a pro forma balance sheet, assuming a sales
increase of 15 percent, no new external debt or equity financing,
and a constant payout ratio. (Do not round intermediate
calculations and round your answers to 2 decimal places, e.g.,
32.16.)
Calculate the EFN. (A negative answer should be
indicated by a minus sign. Do not round intermediate calculations
and round your...
8. . Income Statement Sales Cost $49,000 40,300 Taxable income Taxes (22%) $ 8,700 1,914 Net...
8.
.
Income Statement Sales Cost $49,000 40,300 Taxable income Taxes (22%) $ 8,700 1,914 Net income $ 6,786 Dividends Addition to retained $2,400 4,386 earnings The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank-be certain to enter "O" whenever the item is not a constant...
Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement Sales...
Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement Sales Costs $43,800 34,800 Taxable income Taxes (21%) $9,000 1,890 Net income $ 7110 Dividends Addition to retained $4,300 2,810 earnings The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank be...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $43,500 Costs 34,100 Taxable income Taxes (24%) $ 9,400 2,256 Net income $ 7,144 Dividends Addition to retained earnings $4,000 3,144 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $46,800 Costs 36.200 Taxable income Taxes (35) $ 10,600 3,710 Net income $ 6.890 Dividends Addition to retained earnings $4400 2490 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not (Leave no cells blank....
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs $42,000 33,000 Taxable income Taxes (21%) $9,000 1,890 Net income $ 7,110 Dividends Addition to retained $2,500 4,610 earnings The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank -...
Consider the following income statement for the Heir Jordan Corporation: A 20 percent growth rate in...
Consider the following income statement for the Heir Jordan
Corporation:
A 20 percent growth rate in sales is projected.
Prepare a pro forma income statement assuming costs vary with
sales and the dividend payout ratio is constant. (Input all answers
as positive values. Do not round intermediate calculations.)
What is the projected addition to retained earnings? (Do not
round intermediate calculations.)
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs $49,000...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement...
Consider the following income statement for the Heir Jordan
Corporation:
HEIR JORDAN CORPORATION
Income Statement
Sales
$
43,200
Costs
34,000
Taxable income
$
9,200
Taxes (24%)
2,208
Net income
$
6,992
Dividends
$
3,700
Addition to retained
earnings
3,292
The balance sheet for the Heir Jordan Corporation follows. Based
on this information and the income statement, supply the missing
information using the percentage of sales approach. Assume that
accounts payable vary with sales, whereas notes payable do not....
HEIR JORDAN CORPORATION Income Statement $49,000 40,300 Sales Taxable income Taxes (22%) $8,700 1,914 Net income $6,786 Dividends Addition to retained $2,400 4,386 earnings The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank - be certain to enter "o" whenever the item is not a constant...
Consider the following income statement for the Heir Jordan
Corporation:
The balance sheet for the Heir Jordan Corporation
follows.
Prepare a pro forma balance sheet, assuming a sales
increase of 15 percent, no new external debt or equity financing,
and a constant payout ratio. (Do not round intermediate
calculations and round your answers to 2 decimal places, e.g.,
32.16.)
Calculate the EFN. (A negative answer should be
indicated by a minus sign. Do not round intermediate calculations
and round your...
8.
.
Income Statement Sales Cost $49,000 40,300 Taxable income Taxes (22%) $ 8,700 1,914 Net income $ 6,786 Dividends Addition to retained $2,400 4,386 earnings The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank-be certain to enter "O" whenever the item is not a constant...
Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement Sales Costs $43,800 34,800 Taxable income Taxes (21%) $9,000 1,890 Net income $ 7110 Dividends Addition to retained $4,300 2,810 earnings The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank be...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $43,500 Costs 34,100 Taxable income Taxes (24%) $ 9,400 2,256 Net income $ 7,144 Dividends Addition to retained earnings $4,000 3,144 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $46,800 Costs 36.200 Taxable income Taxes (35) $ 10,600 3,710 Net income $ 6.890 Dividends Addition to retained earnings $4400 2490 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not (Leave no cells blank....
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs $42,000 33,000 Taxable income Taxes (21%) $9,000 1,890 Net income $ 7,110 Dividends Addition to retained $2,500 4,610 earnings The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank -...
Consider the following income statement for the Heir Jordan
Corporation:
A 20 percent growth rate in sales is projected.
Prepare a pro forma income statement assuming costs vary with
sales and the dividend payout ratio is constant. (Input all answers
as positive values. Do not round intermediate calculations.)
What is the projected addition to retained earnings? (Do not
round intermediate calculations.)
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs $49,000...
Consider the following income statement for the Heir Jordan
Corporation:
HEIR JORDAN CORPORATION
Income Statement
Sales
$
43,200
Costs
34,000
Taxable income
$
9,200
Taxes (24%)
2,208
Net income
$
6,992
Dividends
$
3,700
Addition to retained
earnings
3,292
The balance sheet for the Heir Jordan Corporation follows. Based
on this information and the income statement, supply the missing
information using the percentage of sales approach. Assume that
accounts payable vary with sales, whereas notes payable do not....
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