son.3 SalesCostsOther expensesEarnings before interest and taxesInterest paidTaxable incomeTaxes (25%)Net incomeDividendsAddition to retained earningsCurrent assetsCashCROSBY, INCORPORATED2023 Income StatementAccounts receivableInventoryTotalTotal assetsAssetsFixed assetsNet plant and equipmentEFN$ 22,24045,180107,960$ 175,380$ 439,000$ 23,48352,267$ 614,380$ 763,000598,00034,000$ 131,00030,000CROSBY, INCORPORATEDBalance Sheet as of December 31, 2023$ 101,00025,250$ 75,750Liabilities and Owners' EquityCurrent liabilitiesAccounts payableNotes payableTotalLong-term debtOwners' equityCommon stock and paid-in surplusAccumulated retained earningsTotalTotal liabilities and owners' equity$ 56,40015,600$ 72,000$ 146,000$ 122,500273,880$ 396,380$ 614,380If the firm is operating at full capacity and no new debt or equity is issued, what is the external financing needed to support the 20percent growth rate in sales?Note: Do not round intermediate calculations.

EFN refers to the funds the company requires to finance its operations to achieve required growth…

Sales Costs Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (25%) Net income Dividends Addition to retained earnings Current assets Cash CROSBY, INCORPORATED 2023 Income Statement Accounts receivable Inventory Total Assets Fixed assets Net plant and equipment Total assets EFN $ 22,240 45,180 107,960 $ 175,380 $ 439,000 $ 23,483 52, 267 CROSBY, INCORPORATED Balance Sheet as of December 31, 2023 $ 763,000 598,000 34,000 $ 131,000 30,000 $ 101,000 25,250 $ 75,750 $ 614,380 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity If the firm is operating at full capacity and no new debt or equity is issued, what is the external financing needed to support the 20 percent growth rate in sales? Note: Do not round intermediate calculations. $ 56,400 15,600 $ 72,000 $ 146,000 $ 122,500 273,880 $ 396,380 $ 614,380

Sales Costs Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (25%) Net income Dividends Addition to retained earnings Current assets Cash CROSBY, INCORPORATED 2023 Income Statement Accounts receivable Inventory Total Assets Fixed assets Net plant and equipment Total assets EFN $ 22,240 45,180 107,960 $ 175,380 $ 439,000 $ 23,483 52, 267 CROSBY, INCORPORATED Balance Sheet as of December 31, 2023 $ 763,000 598,000 34,000 $ 131,000 30,000 $ 101,000 25,250 $ 75,750 $ 614,380 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity If the firm is operating at full capacity and no new debt or equity is issued, what is the external financing needed to support the 20 percent growth rate in sales? Note: Do not round intermediate calculations. $ 56,400 15,600 $ 72,000 $ 146,000 $ 122,500 273,880 $ 396,380 $ 614,380

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter15: Capital Investment Analysis

Section: Chapter Questions

Problem 15.5.1MBA

See similar textbooks

Similar questions

This year Last year 1050 Assets Cash 1530 Marketable securities Accounts receivable Inventories Total current assets 1810 1220 2050 1770 2900 2790 8290 6830 Gross fixed assets 29480 28090 Less: Accumulated depreciation 14680 13140 Net fixed assets 14800 14950 Total assets Liabilities and Stockholders' Equity 23090 21780 Accounts payable Notes payable Accruals 1560 1540 2760 2160 190 350 Total current liabilities 4510 4050 Long-term debt Common stock Retained earnings Total stockholders' equity 5220 4970 9950 9950 3410 2810 13360 12760 Total liabilities and stockholders' equity 23090 21780
Sales Costs Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (21%) Net income Dividends Addition to retained earnings Current assets Cash CROSBY, INCORPORATED 2023 Income Statement Accounts receivable Inventory Total Total assets Assets Fixed assets Net plant and equipment EFN $ 21,340 44,280 98,960 $ 164,580 $ 430,000 $ 28,203 65,807 $ 594,580 $ 754,000 589,000 25,000 $ 140,000 21,000 CROSBY, INCORPORATED Balance Sheet as of December 31, 2023 $ 119,000 24,990 $ 94,010 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity $ 55,500 14,700 $ 70,200 $ 137,000 $ 118,000 269,380 $ 387,380 $ 594,580 If the firm is operating at full capacity and no new debt or equity is issued, what is the external financing needed to support the 25 percent growth rate in sales? Note: Do not round…
Information from the financial statements of the Heir Jordan Corporation are shown below. Prepare the pro forma financial statements and calculate EFN, assuming a 15 percent increase in sales, no new external debt or equity financing, and a constant payout ratio. Sales Costs Cash Accounts receivable Inventory Net plant and equipment Accounts payable Notes payable Long-term debt Common stock Retained earnings Dividends Net income Increase in sales Tax rate LA LA LA LA LA LA LA LA LA LA LA LA LA $ $ $ $ $ $ $ $ $ 46,000 37,600 2,950 4,100 6,400 41,300 2,400 5,400 28,000 15,000 3,950 2,880 6,552 15% 21%
Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets SMOLIRA GOLF, INCORPORATED 2022 Income Statement Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes Net income Dividends Retained earnings Profit margin Total asset turnover Equity multiplier Return on equity $ 187,570 126,303 5,323 $ 55,944 1,420 $ 3,181 4,762 12,498 $20,441 $ 54,524 19,083 $ 35,441 $ 11,915 23,526 % SMOLIRA GOLF, INCORPORATED Balance Sheets as of December 31, 2021 and 2022 2021 2022 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other $ 51,022 $ 75,789 $ 71,463 $ 98,589 $ 3,257 5,771 13,772 $ 22,800 times times % Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity 2021 $ 2,158 1,755 91 $4,004 $ 13,300 Construct the DuPont identity for Smolira Golf. Note: Do not round intermediate calculations and round your…
Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Total assets Total stockholders' equity Current liabilities Target Corporation Income Statement Data for Year $65,357 45,583 15,101 707 (94) 1,384 $ 2,488 $18,424 26,109 Balance Sheet Data (End of Year) $44,533 $11,327 17,859 15,347 Walmart Inc. $44,533 $408,214 304,657 79,607 10,512 2,065 (411) 7,139 $ 14,335 $48,331 122,375 $170,706 $55,561 44,089 71,056 $170,706 Beginning-of-Year Balances $44,106 13,712 $163,429 65,682 55,390
Calculate the common-sized percentage 2023. for Gross Margin in
Current Asset Current Liabilities COGS Inventory Total Liabilities Total Assets Net Sales Operating Income Gross Profit EBIT EBT Cash Flow Operation Retained Earning Owner's Equity 2018 80,073,836 26,882,064 51,678,144 14,854,944 80,133,248 124,776,768 160,099,728 75,249,200 108,421,584 56,436,900 45,149,520 49,716,192 28,967,893 44,643,520 2017 54,919,520 13,083,840 35,379,840 9,575,808 64,875,200 100,945,824 98,157,888 32,775,808 62,778,048 24,581,856 19,665,485 26,781,248 29,361,440 36,070,624
Below is Rodrigues Ltd's income statement and two balance sheets: Rodrigues Ltd Income Statement for year ending 30th June 2021 Sales COGS Operating expense Depreciation Interest expense Income before tax Tax at 30% Net income $m 600 240 100 40 10 210 63 147 Assets Current assets PPE Cost Accumul. depr. Carrying amount Total assets Rodrigues Ltd Balance Sheet as at 30th June Liabilities Current liabilities Non-current liabilities Owners' equity Retained earnings Contributed equity Total L and OE 2021 $m 98 800 140 660 758 60 130 80 488 758 2020 $m 73 920 100 820 893 50 120 100 623 893 Which of the following statements about the financial year from 30 June 2020 to 30 June 2021 is NOT correct? O a. The increase in net working capital (ANWC) was $15m. O b. Net capital expenditure was negative because in net terms, more property, plant and equipment (PPE) was bought rather than sold. O c. The increase in net working capital was positive largely because in net terms, more inventory was…
Using the financial data for Key Wahl Industries Sales Net Profit After Tax Total Assets Total Liabilities O.50 02 O.75 $4,500,000 What is the debt ratio? O.075 $337,5000 $6,750,000 $ 3,375,000
Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements for 2025 are provided below. Cash COMPARATIVE BALANCE SHEETS Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 12/31/25 $608000 (320000) $408000 360000 384000 288000 $1440000 $176000 352000 360000 216000 336000 $1440000 INCOME STATEMENT For the Year Ended December 31, 2025 12/31/24 $960000 (304000) $192000 216000 480000 656000 $1544000 $96000 392000 600000 216000 240000 $1544000
The following information is available for Sunland Corporation for the year ended December 31, 2022: sales revenue $840,000, other revenues and gains $91,000, operating expenses $101,000, cost of goods sold $466,000, other expenses and losses $30,500, and preferred stock dividends $40,950. The company's tax rate was 20%, and it had 70,000 common shares outstanding during the entire year. (a) Your Answer Correct Answer Your answer is partially correct. Prepare a corporate income statement. (List other revenues before other expenses.)
Net Sales COGS Depreciation EBIT Interest Taxable Income Taxes Net Income 2019 Income Statement Dividends Additions to Retained Earnings 147 647.74 3,456 1,895 235 1,326 320 1,006 211.26 794.74