Here are the abbreviated financial statements for Planner’s
Peanuts: INCOME STATEMENT, 2019 Sales $ 11,000 Cost...
Here are the abbreviated financial statements for Planner’s
Peanuts: INCOME STATEMENT, 2019 Sales $ 11,000 Cost 8,700 Net
income $ 2,300 BALANCE SHEET, YEAR-END 2018 2019 2018 2019 Assets $
10,500 $ 11,500 Debt $ 853 $ 1,000 Equity 9,647 10,500 Total $
10,500 $ 11,500 Total $ 10,500 $ 11,500 a. If sales increase by 25%
in 2020 and the company uses a strict percentage of sales planning
model (meaning that all items on the income and balance sheet...
Abbreviated financial statements for Archimedes Levers are shown
in the table below. Assume sales and expenses...
Abbreviated financial statements for Archimedes Levers are shown
in the table below. Assume sales and expenses increase by 10% in
2017 and all assets and liabilities increase correspondingly. Also
assume no new equity is issued and none is repurchased.
Income Statement
Sales
$
4,000
Costs, including interest
3,500
Net income
$
500
Balance
Sheet, Year-End
2016
2015
2016
2015
Net assets
$
3,200
$
2,700
Debt
$
1,200
$
1,033
Equity
2,000
1,667
Total
$
3,200
$
2,700
Total
$...
The most recent financial statements for Assouad, Inc., are
shown here:
Income Statement
Balance Sheet
Sales...
The most recent financial statements for Assouad, Inc., are
shown here:
Income Statement
Balance Sheet
Sales
$3,900
Current assets
$3,500
Current liabilities
$960
Costs
2,000
Fixed assets
5,800
Long-term debt
3,490
Taxable income
$1,900
Equity
4,850
Taxes (24%)
456
Total
$9,300
Total
$9,300
Net income
$1,444
Assets, costs, and current liabilities are proportional to
sales. Long-term debt and equity are not. The company maintains a
constant 50 percent dividend payout ratio. As with every other firm
in its industry, next...
Consider these abbreviated financial statements for Tomkat
LLC:
Income Statement
2013
Sales (all credit)
2,000,000
Cost...
Consider these abbreviated financial statements for Tomkat
LLC:
Income Statement
2013
Sales (all credit)
2,000,000
Cost of Goods Sold
1,360,000
Cash Expenses
300,000
Depreciation
120,000
Taxes
120,000
Net Income
100,000
Balance Sheet
2012
2013
Cash
10,000
12,000
Accounts Receivable
300,000
320,000
Inventory
410,000
430,000
Total Current Assets
720,000
762,000
Net Fixed Assets
1,200,000
1,320,000
Total Assets
1,920,000
2,082,000
Accounts Payable
44,000
48,000
Long Term Debt
666,000
724,000
Owners Equity
1,210,000
1,310,000
Total Debt and Equity
1,920,000
2,082,000
(a) Prepare a...
Eagle Sports Supply
has the following financial statements. Assume that Eagle’s assets
are proportional to its...
Eagle Sports Supply
has the following financial statements. Assume that Eagle’s assets
are proportional to its sales.
INCOME STATEMENT, 2019
Sales
$
1,100
Costs
210
Interest
90
Taxes
160
Net income
$
640
BALANCE SHEET, YEAR-END
2018
2019
2018
2019
Assets
$
3,100
$
3,400
Debt
$
1,300
$
1,400
Equity
1,800
2,000
Total
$
3,100
$
3,400
Total
$
3,100
$
3,400
a.
Find Eagle’s required external funds if it maintains a dividend
payout ratio of 60% and...
Eagle Sports Supply has the following financial statements.
Assume that Eagle’s assets are proportional to its...
Eagle Sports Supply has the following financial statements.
Assume that Eagle’s assets are proportional to its sales.
INCOME STATEMENT, 2017
Sales
$
1,650
Costs
320
Interest
60
Taxes
270
Net income
$
1,000
BALANCE SHEET, YEAR-END
2016
2017
2016
2017
Assets
$
4,200
$
4,500
Debt
$
1,500
$
1,600
Equity
2,700
2,900
Total
$
4,200
$
4,500
Total
$
4,200
$
4,500
a. Find Eagle’s required external funds if it
maintains a dividend payout ratio of 50% and...
The most recent financial statements for Schenkel Co. are shown
here:
Income Statement
Balance Sheet
Sales...
The most recent financial statements for Schenkel Co. are shown
here:
Income Statement
Balance Sheet
Sales
$
18,100
Current assets
$
12,200
Debt
$
16,700
Costs
13,900
Fixed assets
29,500
Equity
25,000
Taxable income
$
4,200
Total
$
41,700
Total
$
41,700
Taxes (40%)
1,680
Net
income
$
2,520
Assets and costs are proportional to sales. Debt and equity are
not. The company maintains a constant 25 percent dividend payout
ratio. No external equity financing is possible.
What is the...
The most recent financial statements for Weyland Co. are shown
here:
INCOME STATEMENT
BALANCE SHEET
Sales...
The most recent financial statements for Weyland Co. are shown
here:
INCOME STATEMENT
BALANCE SHEET
Sales
$
38,800
Current assets
$
23,600
Long-term debt
$
46,500
Costs
29,400
Fixed assets
79,000
Equity
56,100
Taxable income
$
9,400
Total
$
102,600
Total
$
102,600
Taxes (34%)
3,196
Net income
$
6,204
Assets and costs are proportional to sales. The company maintains a
constant 20 percent dividend payout ratio and a constant
debt−equity ratio.
What is the maximum increase in sales that...
The most recent financial statements for Weyland Co. are shown
here:
INCOME STATEMENT
BALANCE SHEET
Sales...
The most recent financial statements for Weyland Co. are shown
here:
INCOME STATEMENT
BALANCE SHEET
Sales
$
52,200
Current assets
$
22,000
Long-term debt
$
45,500
Costs
42,100
Fixed assets
91,000
Equity
67,500
Taxable income
$
10,100
Total
$
113,000
Total
$
113,000
Taxes (34%)
3,434
Net income
$
6,666
Assets and costs are proportional to sales. The company maintains a
constant 20 percent dividend payout ratio and a constant
debt−equity ratio.
What is the maximum increase in sales that...
The most recent financial statements for Wise Co. are shown
here:
Income Statement
Balance Sheet
Sales...
The most recent financial statements for Wise Co. are shown
here:
Income Statement
Balance Sheet
Sales
$
52,200
Current assets
$
22,000
Long-term debt
$
45,500
Costs
42,100
Fixed assets
91,000
Equity
67,500
Taxable income
$
10,100
Total
$
113,000
Total
$
113,000
Taxes (34%)
3,434
Net income
$
6,666
Assets and costs are proportional to sales. The company
maintains a constant 20 percent dividend payout ratio and a
constant debt–equity ratio.
What is the...