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statements for Q2 (April 1- June30) based on the follow assumptions:

statements for Q2 (April 1- June30) based on the follow assumptions:

Essentials Of Investments
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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Cost of Good sold is 115,500 all the information are there.

 

We prepared the statements for Quarter 1 (Q1) in class. Prepare the statements for Q2 (April 1- June30) based on the following assumptions: April's sales, $150,000; May's sales, $200,000; and, June's sales, $250,000. XYZ Company PRO FORMA Quarterly Income Statements Q1 $165,000 Q2 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Income before interest & taxes (219,750) Interest expense 115,500 49,500 138,000 131,250 25,000 Income before taxes (244,750) Income tax (expense)/recovery 122,375 $(122,375) Net Income
Transcribed Image Text:We prepared the statements for Quarter 1 (Q1) in class. Prepare the statements for Q2 (April 1- June30) based on the following assumptions: April's sales, $150,000; May's sales, $200,000; and, June's sales, $250,000. XYZ Company PRO FORMA Quarterly Income Statements Q1 $165,000 Q2 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Income before interest & taxes (219,750) Interest expense 115,500 49,500 138,000 131,250 25,000 Income before taxes (244,750) Income tax (expense)/recovery 122,375 $(122,375) Net Income
+PRO FORMA Quarterly Balance Sheets Q1 $815,500 Q2 Cash Accounts receivable 110,000 947,000 Inventory Plant & equipment Accumulated depreciation 10,500,000 (4,031,250) $8,341,250 Total Assets Accounts payable $125,000 Line of credit Interest payable Taxes payable Current portion of LT debt Long-term debt 25,000 (122,375) 200,000 3,400,000 Common shares 1,800,000 2,913,625 $8.341,250 Retained earnings Total Liabilities & Sh. Equity
Transcribed Image Text:+PRO FORMA Quarterly Balance Sheets Q1 $815,500 Q2 Cash Accounts receivable 110,000 947,000 Inventory Plant & equipment Accumulated depreciation 10,500,000 (4,031,250) $8,341,250 Total Assets Accounts payable $125,000 Line of credit Interest payable Taxes payable Current portion of LT debt Long-term debt 25,000 (122,375) 200,000 3,400,000 Common shares 1,800,000 2,913,625 $8.341,250 Retained earnings Total Liabilities & Sh. Equity
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