S04-01 Pro Forma Statements [LO1] Consider the following simplified financial statements for the Wesney Corporation (assuming no income taxes): Income Statement Sales Costs Net income $39,400 Assets 34,700 $4,700 Sales Costs Net income Pro forma income statement Balance Sheet Debt Equity $ 29,200 Total $ 29,200 The company has predicted a sales increase of 15 percent. It has predicted that every item on the balance sheet will increase by 15 percent as well. Assets Total Create the pro forma statements and reconcile them. (Input all amounts as positive values. Do not round intermediate calculations.) $ 9,400 19,800 Total Assets $ 29,200 Pro forma balance sheet Debt Equity Total Debt and Equity
S04-01 Pro Forma Statements [LO1] Consider the following simplified financial statements for the Wesney Corporation (assuming no income taxes): Income Statement Sales Costs Net income $39,400 Assets 34,700 $4,700 Sales Costs Net income Pro forma income statement Balance Sheet Debt Equity $ 29,200 Total $ 29,200 The company has predicted a sales increase of 15 percent. It has predicted that every item on the balance sheet will increase by 15 percent as well. Assets Total Create the pro forma statements and reconcile them. (Input all amounts as positive values. Do not round intermediate calculations.) $ 9,400 19,800 Total Assets $ 29,200 Pro forma balance sheet Debt Equity Total Debt and Equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![S04-01 Pro Forma Statements [LO1]
Consider the following simplified financial statements for the Wesney Corporation
(assuming no income taxes):
Income Statement
Sales
Costs
Net
income
$ 39,400
34,700
$4,700
Sales
Costs
Net Income
Assets $ 29,200
Balance Sheet
Debt
Equity
Pro forma income statement
Total $ 29,200
The company has predicted a sales increase of 15 percent. It has predicted that every
item on the balance sheet will increase by 15 percent as well.
Assets
Total
Create the pro forma statements and reconcile them. (Input all amounts as positive
values. Do not round intermediate calculations.)
$ 9,400
19,800
Total Assets
$ 29,200
Pro forma balance sheet
Debt
Equity
Total Debt and Equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8b71e1a6-6525-4fc3-ba18-e446e5c3da01%2F1a20c137-66c0-4385-9d20-28825cbbefef%2Ff2fego_processed.jpeg&w=3840&q=75)
Transcribed Image Text:S04-01 Pro Forma Statements [LO1]
Consider the following simplified financial statements for the Wesney Corporation
(assuming no income taxes):
Income Statement
Sales
Costs
Net
income
$ 39,400
34,700
$4,700
Sales
Costs
Net Income
Assets $ 29,200
Balance Sheet
Debt
Equity
Pro forma income statement
Total $ 29,200
The company has predicted a sales increase of 15 percent. It has predicted that every
item on the balance sheet will increase by 15 percent as well.
Assets
Total
Create the pro forma statements and reconcile them. (Input all amounts as positive
values. Do not round intermediate calculations.)
$ 9,400
19,800
Total Assets
$ 29,200
Pro forma balance sheet
Debt
Equity
Total Debt and Equity
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