Balance Sheet as of December 31, 2010 Cash Receivables Inventories S 180,000 Accounts payable 360,000Notes payable...

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Balance Sheet as of December 31, 2010 Cash Receivables Inventories S 180,000 Accounts payable 360,000Notes payable S 360,000 156,000 180,000 720,000 Accruals $1,260,000 Total current liabilities S 696,000 1,800,000 204,000 Total liabilities and equity $2,700.00 Total current assets Fixed assets 1,440,000 Common stock Retained earnings Total assets $2,700,000 Income Statement for December 31, 2010 Sales Operating costs $3,600,000 3,279,720 S 320,280 18,280 S 302,000 120,800 S 181,200 S 108,000 EBIT Interest EBT Taxes (40%) Net income Dividends

3 9 48o -Use the data in Intone S Aaestion: If%e Sales increase by 12 o nl ain o b) Pls remore tax 40/meanine Ure by tax ant BT

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Answer 1

Answer #1

a) Foracasted Income Statement for 2011 Particulars Sales (3600000#11096) Less: Operating Cost (3279720*110%) EBIT Less: Interest Amount $ 3,960,000.00 3,607,692.00 352,308.00 18,280.00 334,028.00 133,611.20 200,416.80 Less : Taxes @40% Net Income

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Answer 2

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