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Consider the following statement of comprehensive Income for the Dartmoor Corporation: Sales Costs DARTMOOR CORPORATION Statement of Comprehensive Income Taxable income Taxes (34%) Net income Dividends Addition to retained earnings Current assets Cash The statement of financial position for the Dartmoor Corporation follows. Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets EFN $2,500 7,862 Assets DARTMOOR CORPORATION Statement of Financial Position $ 2,950 4,108 6,400 $13,450 $41,300 $47,000 31,300 $15,700 5,338 $10,362 $54,750 Prepare a pro forma statement of financial position, assuming a 15% Increase in sales, no new external debt or equity financing, and a constant payout ratlo. (Do not round Intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) Liabilities and Owners' Equity Current liabilities. Accounts payable. Notes payable Total Long-term debt. Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ DARTMOOR CORPORATION Pro Forma Statement of Financial Position Current liabilities Accounts payable Notes payable Total $ 2,400 5,400 $ 7,800 $28,000 Long-term debt Owners equity Common stock and paid-in surplus Retained earnings Total $15,000 3,958 Total liabilities and owners' equity $18,950 $54,750 Liabilities and Owners' Equity $ $ $ $ Calculate the EFN. (Do not round Intermediate calculations. Negative answer should be indicated by a minus sign. Round the final answer to 2 decimal places. Omit $ sign in your response.) $

Consider the following statement of comprehensive Income for the Dartmoor Corporation: Sales Costs DARTMOOR CORPORATION Statement of Comprehensive Income Taxable income Taxes (34%) Net income Dividends Addition to retained earnings Current assets Cash The statement of financial position for the Dartmoor Corporation follows. Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets EFN $2,500 7,862 Assets DARTMOOR CORPORATION Statement of Financial Position $ 2,950 4,108 6,400 $13,450 $41,300 $47,000 31,300 $15,700 5,338 $10,362 $54,750 Prepare a pro forma statement of financial position, assuming a 15% Increase in sales, no new external debt or equity financing, and a constant payout ratlo. (Do not round Intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) Liabilities and Owners' Equity Current liabilities. Accounts payable. Notes payable Total Long-term debt. Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ DARTMOOR CORPORATION Pro Forma Statement of Financial Position Current liabilities Accounts payable Notes payable Total $ 2,400 5,400 $ 7,800 $28,000 Long-term debt Owners equity Common stock and paid-in surplus Retained earnings Total $15,000 3,958 Total liabilities and owners' equity $18,950 $54,750 Liabilities and Owners' Equity $ $ $ $ Calculate the EFN. (Do not round Intermediate calculations. Negative answer should be indicated by a minus sign. Round the final answer to 2 decimal places. Omit $ sign in your response.) $

FINANCIAL ACCOUNTING
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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Consider the following statement of comprehensive Income for the Dartmoor Corporation: DARTMOOR CORPORATION Statement of Comprehensive Income Taxable income Taxes (34%) Net income Dividends Addition to retained earnings Current assets Cash The statement of financial position for the Dartmoor Corporation follows. Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets $2,500 7,862 EFN Assets DARTMOOR CORPORATION Statement of Financial Position $ 2,950 4,100 6,400 $13,458 $41,300 $54,750 31,300 $15,700 5,338 $10,362 Prepare a pro forma statement of financial position, assuming a 15% Increase in sales, no new external debt or equity financing, and a constant payout ratio. (Do not round Intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign In your response.) Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Liabilities and Owners' Equity Total liabilities and owners' equity $ DARTMOOR CORPORATION Pro Forma Statement of Financial Position M Current liabilities Accounts payable Notes payable Total $ 2,408 5,400 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $28,000 Total liabilities and owners' equity $15,000 3,958 $18,950 $54,750 Liabilities and Owners' Equity 54 TA 14 14 1A Calculate the EFN. (Do not round Intermediate calculations. Negative answer should be Indicated by a minus sign. Round the final answer to 2 decimal places. Omit $ sign in your response.) $1
Transcribed Image Text:Consider the following statement of comprehensive Income for the Dartmoor Corporation: DARTMOOR CORPORATION Statement of Comprehensive Income Taxable income Taxes (34%) Net income Dividends Addition to retained earnings Current assets Cash The statement of financial position for the Dartmoor Corporation follows. Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets $2,500 7,862 EFN Assets DARTMOOR CORPORATION Statement of Financial Position $ 2,950 4,100 6,400 $13,458 $41,300 $54,750 31,300 $15,700 5,338 $10,362 Prepare a pro forma statement of financial position, assuming a 15% Increase in sales, no new external debt or equity financing, and a constant payout ratio. (Do not round Intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign In your response.) Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Liabilities and Owners' Equity Total liabilities and owners' equity $ DARTMOOR CORPORATION Pro Forma Statement of Financial Position M Current liabilities Accounts payable Notes payable Total $ 2,408 5,400 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $28,000 Total liabilities and owners' equity $15,000 3,958 $18,950 $54,750 Liabilities and Owners' Equity 54 TA 14 14 1A Calculate the EFN. (Do not round Intermediate calculations. Negative answer should be Indicated by a minus sign. Round the final answer to 2 decimal places. Omit $ sign in your response.) $1
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