Assume that Eagle's assets are proportional to its sales. (LOI8-2) INCOME STATEMENT, 2019 Sales $950 Costs 250 Interest 50 Тахes 150 Net income $500 BALANCE SHEET, YEAR-END 2018 2019 2018 2019 Assets $2,700 $3,000 Debt $ 900 $1,000 Equity 1,800 2,000 Total $2,700 $3,000 Total $2,700 $3,000

Assume that Eagle's assets are proportional to its sales. (LOI8-2) INCOME STATEMENT, 2019 Sales $950 Costs 250 Interest 50 Тахes 150 Net income $500 BALANCE SHEET, YEAR-END 2018 2019 2018 2019 Assets $2,700 $3,000 Debt $ 900 $1,000 Equity 1,800 2,000 Total $2,700 $3,000 Total $2,700 $3,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

12. Using Percentage of Sales. Eagle Sports Supply has the following financial statements.
Assume that Eagle's assets are proportional to its sales. (LO18-2)
INCOME STATEMENT, 2019
Sales
$950
Costs
250
Interest
50
Taxes
150
Net income
$500
BALANCE SHEET, YEAR-END
2018
2019
2018
2019
Assets
$2,700
$3,000
Debt
$ 900
$1,000
Equity
1,800
2,000
$3,000
Total
$2,700
$3,000
Total
$2,700

a. Find Eagle's required external funds if it maintains a dividend payout ratio of 70% and plans
a growth rate of 15% in 2020.

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