CShsiger-netolowing income statement for the Heir Jordan Corporation:HEIR JORDAN CORPORATIONIncome StaternentSales$48,80034,800CostsTaxable incomeTaxes (22%)Net income$14,0003,080$10,920DividendsAddition to retained earnings 8,403$ 2,517The balance sheet for the Heir Jordan Corporation followsHEIR JORDAN CORPORATIONBalance SheetAssetsLiabilities and Owners' EquityCurrent assetsCashAccounts receivableCurrent liabilities2,650 Accounts payable$ 2,4003,600 Notes payable5,300$ 7,70024,000Common stock and paid-in surplus 18,000Inventory9,000 TotalTotals 15,250 Long-term debtOwners' equityFixed assetsNet plant and equipment38,400Retained earnings3,950$ 21,95053,650 Total liabilities and owners' equity 53,50TotalTotal assetsPrepare a pro forma balance sheet assuming an increase in sales of 12 percent, no new external debtand a constant payout ratio (Do not round intermediate calculations and round youanswers to 2 decimal places, e.g., 32.16.)

Before we can draw the pro forma balance sheet, we will have to cast the pro forma income statement.

Answered: CShsiger-ne tolowing income statement…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Current assets Liabilities and Owners' Equity Current liabilities 2020 2021 Cash $12,000 $ 17,775 Accounts payable Accounts receivable 12,750 16,425 Notes payable $46,875 $55,575 19,125 24,750 Inventory 50,250 56,925 Total $75,000 $91,125 Total $66,000 $80,325 Long-term debt $30,000 $27,000 Owners' equity Common stock and paid-in surplus $45,000 $45,000 Retained earnings 234,000 297,675 Net plant and equipment $ 300,000 $ $ 358,875 Total $279,000 342,675 $ $ Total assets $375,000 Total liabilities and owners' equity $375,000 450,000 450,000 Prepare the 2021 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity 2020 2021 $ 12,000 $ 17,775 12,750 16,425 50,250 56,925 $ 69 75,000 $…
The comparative statement of financial position of Bridgeport Corporation as at December 31, 2023, follows: Assets BRIDGEPORT CORPORATION Statement of Financial Position December 31 Cash Accounts receivable Equipment Less: Accumulated depreciation Total Liabilities and Shareholders' Equity Accounts payable Common shares Retained earnings Total 2023 December 31 $52,500 90,800 27,000 (10,000) $160,300 $20,000 100,000 40,300 $160,300 2022 $11,800 87,500 22,700 (10,800) $111,200 $15,000 80,000 16,200 $111,200 Net income of $37,100 was reported and dividends of $13,000 were declared and paid in 2023. New equipment was purchased, and equipment with a carrying value of $4,800 (cost of $11,500 and accumulated depreciation of $6,700) was sold for $7,800. Prepare a statement of cash flows using the indirect method for cash flows from operating activities. Assume that Bridgeport prepares financial statements in accordance with ASPE. (Show amounts that decrease cash flow with either a - sign…
Using the financial statements mentioned above estimate the annual rate of interest paid by the corporation (cost of debt). Also, find the tax rate and capitalization ratio (proportions among equity and debt). Using these values that you have found estimate the annual weighted cost of capital (WACC) of the corporation.
Use the below information to answer the following question. Sales Cost of goods sold Depreciation Income Statement For the Year Taxable income Taxes Earnings before interest $4,500 and taxes Interest paid Net income Dividends $900 Balance Sheet End-of-Year Cash Accounts receivable Inventory Total current assets Net fixed assets Total assets Accounts payable Long-term debt Common stock ($1 par value) Retained earnings O O O O Total Liab. & Equity 33 percent 40 percent 50 percent $28,400 60 percent 21,200 2,700 67 percent 850 $3,650 1,400 $2,250 $550 2,450 4,700 $7,700 What was the retention ratio? 16,900 $24,600 $ 2,700 9,800 8,000 4,100 $24,600
Sagar
am. 17.
The financial statements of Plax Inc. and Slate Corp for the year ended December 31, 2020 are shown below: Income Statements Plax Inc. Slate Corp Miscellaneous Revenues $1,300,000 $400,000 Interest Revenues $11,250 Dividend Revenue $15,000 Less: Expenses Miscellaneous Expense $864,000 $259,200 Interest Expense $19,400 Income Tax Expense $198,000 $48,000 Net Income $264,250 $73,400 Retained Earnings Statements Plax Inc. Slate Corp Balance, January 1, 2020 $490,000 $180,000 Net Income $264,250 $73,400 Less: Dividends $(126,000) ($20,000) Retained Earnings $628,250 $233,400 Balance Sheets Plax Inc. Slate Corp Miscellaneous Assets $1,210,000 $745,200 Investment in Slate Shares $196,000 Investment in Slate Bonds $122,250 Total Assets $1,528,250 $745,200 Miscellaneous Liabilities…
The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2018 (Millions of Dollars) Assets Liabilities and Equity Cash and equivalents $ 15 Accounts payable $ 100 Accounts receivable 515 Accruals 220 Inventories 830 Notes payable 230 Total current assets $ 1,360 Total current liabilities $ 550 Net plant and equipment 2,550 Long-term bonds 1,500 Total liabilities $ 2,050 Common stock (100 million shares) 260 Retained earnings $ 1,600 Common equity $ 1,860 Total assets $ 3,910 Total liabilities and equity $ 3,910 Davidson Corporation: Income Statement for Year Ending December 31, 2018 (Millions of Dollars) Sales $ 6,000 Operating costs excluding depreciation and amortization 3,780 EBITDA $ 2,220 Depreciation and amortization 420 EBIT $ 1,800 Interest 164 EBT $ 1,636 Taxes…
Subject: acounting
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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
Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes. Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Sin Comparative Income Statements For Years Ended December 31 2021 $ 420,027 252,856 167,171 59,644 37,802 97,446 69,725 12,969 $ 56,756 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Assets Current assets Long-term investments Plant assets, net. Total assets Liabilities and Equity Current liabaties Common stock Other paid-in capital Retained earnings Total liabilities and equity 2020 $ 321,775 202,718 KORBIN COMPANY Comparative Balance Sheets December 31 2021 119,057 44,405 28,316 72,721 46,336 9,499 $ 36,837 $ 55,286 0 102,674 $ 157,960 2020 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as answers to 2 decimal places.) 111.77 % 0.00 $ 37,003 700…

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