Consider the following income 'statement for the Mickey Mouse Corporation: Mickey Mouse Corporation Income Statement Sales Costs Taxable income Taxes (22%) Net income Dividends $ 2,200 Addition to retained earnings 5,912 $ 45,600 35,200 HEIR JORDAN CORPORATION Pro Forma Income Statement $ 10,400 2,288 $ 8,112 The projected sales growth rate is 18 percent. Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant. (Do not round) Intermediate calculations and round your answers to the nearest whole number, e.g.. 32.)

Consider the following income 'statement for the Mickey Mouse Corporation: Mickey Mouse Corporation Income Statement Sales Costs Taxable income Taxes (22%) Net income Dividends $ 2,200 Addition to retained earnings 5,912 $ 45,600 35,200 HEIR JORDAN CORPORATION Pro Forma Income Statement $ 10,400 2,288 $ 8,112 The projected sales growth rate is 18 percent. Prepare a pro forma income statement assuming costs vary with sales and the dividend payout ratio is constant. (Do not round) Intermediate calculations and round your answers to the nearest whole number, e.g.. 32.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Eagle Sports Supply has the following financial statements. Assume that Eagle’s assets are proportional to its sales. INCOME STATEMENT, 2019 Sales $ 900 Costs 170 Interest 50 Taxes 120 Net income $ 560 BALANCE SHEET, YEAR-END 2018 2019 2018 2019 Assets $ 3,150 $ 3,450 Debt $ 1,050 $ 1,150 Equity 2,100 2,300 Total $ 3,150 $ 3,450 Total $ 3,150 $ 3,450 What is the internal growth rate of Eagle Sports if the dividend payout ratio is fixed at 60% and the equity-to-asset ratio is fixed at 2/3? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. What is the sustainable growth rate? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.
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Based on the above information, calculate the sustainable growth rate for Kayla's Heavy Equipment.