Consider the following simplified financial statements for the Wims Corporation(assuming no income taxes):Income StatementSalesCostsNetincome$46,90041,140$ 5,760Balance SheetAssets $22,700 Debt $ 6,700Equity16,000SalesCostsNet incomeTotal $22,700 Total $22,700The company has predicted a sales increase of 18 percent. Assume the company paysout half of net income in the form of a cash dividend. Costs and assets vary with sales, shipbut debt and equity do not.Prepare the pro forma statements. (Input all amounts as positive values. Do not roundintermediate calculations and round your answers to the nearest whole dollaramount.)Pro forma income statement$55,342 AssetsTotal$$GAPro forma balance sheet26,786 DebtEquity26,786 Total

When the company has taken borrowings from third parties or financial agencies in order to fulfill…

Consider the following simplified financial statements for the Wims Corpor (assuming no income taxes): Income Statement Sales Costs Net income $46,900 41,140 $ 5,760 Assets Balance Sheet $22,700 Debt $ 6,700 Equity 16,000 Total $22,700 Total $22,700

Consider the following simplified financial statements for the Wims Corpor (assuming no income taxes): Income Statement Sales Costs Net income $46,900 41,140 $ 5,760 Assets Balance Sheet $22,700 Debt $ 6,700 Equity 16,000 Total $22,700 Total $22,700

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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The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes): Sales Costs Income Statement. Net income Assets: Total EFN $6,800 -4,080 $2,720 Balance Sheet. $20,400 Debt $20,400 Equity Total $10,600 9,800 $20,400 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $7,752. What is the external financing needed? (A negative value should be indicated by a minus si Do not round intermediate calculations. Round your answer to the nearest whole number.)
ces The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes): Sales Costs Income Statement Net income Assets Total EFN $9,200 -5,520 $3,680 Balance Sheet Debt Equity $26,680 $26,680 Total $10,800 15,880 $26,680 Check my Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $10,212. What is the external financing needed? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to the nearest whole number.)
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Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATIONIncome Statement Sales $ 47,600 Costs 35,600 Taxable income $ 12,000 Taxes (25%) 3,000 Net income $ 9,000 Dividends $ 3,000 Addition to retained earnings 6,000 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank - be certain to enter "0" whenever the item is not a constant percentage of sales. Enter each answer as a percent rounded 2 decimal places, e.g., 32.16.) HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Percentage of Sales Assets…
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