EASSY Manufacturing Company presents the following: Statement of Comprehensive Income December 31, 2020 Sales Cost of sales Gross profit Operating expenses Income before taxes Income tax (30%) Net income INE Current assets Non-current assets Total assets Current liabilities CHRISTIAN CHARACTER Non-current liabilities Ordinary shares Retained earnings Total liabilities and shareholders' equity Truth Statement of Financial Position December 31, 2020 Required: Compute the following: 1. Expected increase in assets. SERVICE P MIND 2. Spontaneous increase in current liabilities.. 3. Projected statements of comprehensive income. 4. Expected increase in retained earnings 5. Additional funds needed 6. Projected balance sheet 3. The business expects a 30% increase in sales next year. 4. The business is expecting to retain 40% of the earning next year. Additional information: 1. Dividends paid out of P630,000 earnings in 2020 amount to P378,000. 2. Only current assets and current liabilities are directly related to sales. 6,000,000 4,200,000 1,800,000 900,000 900,000 270,000 630,000 4,200,000 5.000.000 9,200,000 900,000 2,500,000 4,900,000 900,000 9.200.000

EASSY Manufacturing Company presents the following: Statement of Comprehensive Income December 31, 2020 Sales Cost of sales Gross profit Operating expenses Income before taxes Income tax (30%) Net income INE Current assets Non-current assets Total assets Current liabilities CHRISTIAN CHARACTER Non-current liabilities Ordinary shares Retained earnings Total liabilities and shareholders' equity Truth Statement of Financial Position December 31, 2020 Required: Compute the following: 1. Expected increase in assets. SERVICE P MIND 2. Spontaneous increase in current liabilities.. 3. Projected statements of comprehensive income. 4. Expected increase in retained earnings 5. Additional funds needed 6. Projected balance sheet 3. The business expects a 30% increase in sales next year. 4. The business is expecting to retain 40% of the earning next year. Additional information: 1. Dividends paid out of P630,000 earnings in 2020 amount to P378,000. 2. Only current assets and current liabilities are directly related to sales. 6,000,000 4,200,000 1,800,000 900,000 900,000 270,000 630,000 4,200,000 5.000.000 9,200,000 900,000 2,500,000 4,900,000 900,000 9.200.000

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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Provided below are the financial statements for J Ltd.: Income statement Balance Sheet Net sales $984 2021 2020 Assets Cost of goods sold $752 Current assets $452 $354 Depreciation $27 Long-term assets $389 $374 EBIT $205 Total assets $841 $728 Interest expense $25 Liabilities and shareholders' equity Current liabilities $247 $164 Income before taxes $180 Long-term debt $157 $145 Taxes $27 Shareholders' equity $437 $419 Net income $153 Total liabilities and shareholders' equity $841 $728 Calculate economic value added (EVA), assuming cost of capital is 7.5%. (Round all the intermediate calculations and the final answer to 2 decimal places) $131.95 $135.70 $98.40 $129.70
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