to find Pretax Income 2017?Homework Answers
Following is the completed table:
| Particulars | Remark | Percentage of Sales | 2016 | 2017 |
| Sales | Given | $ 1,97,670.00 | $ 2,16,843.99 | |
| Cost & Exp | Given | 50.16% | $ 99,160.00 | $ 1,08,778.52 |
| EBITDA | Sales-Cost & Exp | $ 98,510.00 | $ 1,08,065.47 | |
| Depreciation | Given | 3.04% | $ 6,010.00 | $ 6,592.97 |
| Interest | Given | 0.29% | $ 580.00 | $ 636.26 |
| EBT | EBITDA-Depreciation-Interest | $ 91,920.00 | $ 1,00,836.24 | |
| Tax | 35% x EBT | 16.28% | $ 32,172.00 | $ 35,292.68 |
| EAT | EBT-Tax | $ 59,748.00 | $ 65,543.56 |
- First we calculate the percent of sales for the year 2016 for each line item
- Next we calculate the sales of 2017 = sales of 2016 x (1+growth
rate)
- sales of 2017 = 197670 x 1.097
- Then we find each line item for the year 2017 using the percent of sales found out for the year 2016
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to find Pretax Income 2017?
Use the information about Jim's Espresso to answer the following question(s):...
Use the information about Jim Espresso to answer the following question(s): Jim's Espresso Income Statement (2016)...
Use the information about Jim Espresso to answer the following question(s): Jim's Espresso Income Statement (2016) Sales 197,670 Costs exc. Dep. 99.160 EBITDA 98,510 Depreciation 6,010 EBIT 92,500 580 Pretax Income 91,920 Income Taxes (35%) 32,172 Net Income 59,748 Interest Using the percent of sales method, and assuming 9.7% growth in sales, estimate Jim's Espresso depreciation for 2017 O A. $6,785 B.56,485 C 56,593 OD. 56,880
Jim's Espresso expects sales to grow by 10.1 % next year. Assume that Jim's pays out...
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Jim's Espresso expects sales to grow by 10.3 % next year. Using the following statements and the percent of sales method, forecast: a. Costs b. Depreciation c. Net Income d. Cash e. Accounts receivable f. Inventory g. Property, plant, and equipment (Note:Make sure to round all intermediate calculations to at least five decimal places.) The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this...
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Jim's Espresso expects sales to grow by 10.0% next year. Assume that Jim's pays out 90%...
Jim's Espresso expects sales to grow by 10.0% next year. Assume that Jim's pays out 90% of its net income. Use the following statements and the percent of sales method to forecast: a. Stockholders' equity b. Accounts payable The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your...
Jim's Espresso expects sales to grow by 10.1% next year. Using the following statements and the...
Jim's Espresso expects sales to grow by 10.1% next year. Using the following statements and the percent of sales method, forecast: a. Costs b. Depreciation c. Net Income d. Cash e. Accounts receivable f. Inventory g. Property, plant, and equipment (Noto: Make sure to round all intermediate calculations to at least five decimal places.) The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this...
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P 18-5 (similar to) Question Help Jim's Espresso expects sales to grow by 9.5% next year. Assume that Jim's pays out 80.3% of its net income. Use the following statements and the percent of sales method to forecast: a. Stockholders' equity b. Accounts payable The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return...
Income Statement Sales $191,140 Costs Except Depreciation (99,590) EBITDA $91,550 Depreciation (6,010) EBIT $85,540 Interest Expense...
Income
Statement
Sales $191,140
Costs Except Depreciation (99,590)
EBITDA $91,550
Depreciation (6,010)
EBIT $85,540
Interest Expense (net) (570)
Pretax Income $84,970
Income Tax (29,740)
Net Income $55,230
Balance Sheet
Assets
Cash and Equivalents $15,070
Accounts Receivable 2,040
Inventories 4,070
Total Current Assets $21,180
Property, Plant and Equipment 9,980
Total Assets $31,160
Liabilities and Equity
Accounts Payable $1,510
Debt 3,940
Total Liabilities $5,450
Stockholders' Equity 25,710
Total Liabilities and Equity $31,160
I'm trying to find forecasted cost the answer I...
Income Statement Sales $198,520 Costs Except Depreciation (99,010) EBITDA $99,510 Depreciation (6,080) EBIT $93,430 Interest Expense...
Income Statement Sales $198,520 Costs Except Depreciation (99,010) EBITDA $99,510 Depreciation (6,080) EBIT $93,430 Interest Expense (net) (440) Pretax Income $92,990 Income Tax (23,248) Net Income $69,742 Balance Sheet Assets Cash and Equivalents $15,020 Accounts Receivable 1,940 Inventories 4,090 Total Current Assets $21,050 Property, Plant and Equipment 10,000 Total Assets $31,050 Liabilities and Equity Accounts Payable $1,410 Debt 4,080 Total Liabilities $5,490 Stockholders' Equity 25,560 Total Liabilities and Equity $31,050 Jim's Espresso expects sales to grow by 10.1% next...
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Use the information about Jim Espresso to answer the following question(s): Jim's Espresso Income Statement (2016) Sales 197,670 Costs exc. Dep. 99.160 EBITDA 98,510 Depreciation 6,010 EBIT 92,500 580 Pretax Income 91,920 Income Taxes (35%) 32,172 Net Income 59,748 Interest Using the percent of sales method, and assuming 9.7% growth in sales, estimate Jim's Espresso depreciation for 2017 O A. $6,785 B.56,485 C 56,593 OD. 56,880
Jim's Espresso expects sales to grow by 10.1% next year. Using the following statements and the percent of sales method, forecast: a. Costs b. Depreciation c. Net Income d. Cash e. Accounts receivable f. Inventory g. Property, plant, and equipment (Noto: Make sure to round all intermediate calculations to at least five decimal places.) The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this...
P 18-5 (similar to) Question Help Jim's Espresso expects sales to grow by 9.5% next year. Assume that Jim's pays out 80.3% of its net income. Use the following statements and the percent of sales method to forecast: a. Stockholders' equity b. Accounts payable The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return...
Income
Statement
Sales $191,140
Costs Except Depreciation (99,590)
EBITDA $91,550
Depreciation (6,010)
EBIT $85,540
Interest Expense (net) (570)
Pretax Income $84,970
Income Tax (29,740)
Net Income $55,230
Balance Sheet
Assets
Cash and Equivalents $15,070
Accounts Receivable 2,040
Inventories 4,070
Total Current Assets $21,180
Property, Plant and Equipment 9,980
Total Assets $31,160
Liabilities and Equity
Accounts Payable $1,510
Debt 3,940
Total Liabilities $5,450
Stockholders' Equity 25,710
Total Liabilities and Equity $31,160
I'm trying to find forecasted cost the answer I...
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement (S in millions) $10,060 8,240 500 $1,320 124 1,196 Net sales Cost of goods sold Depreciation Eniglst and taxes Interest paid Taxable income Taxes Net income Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 51750?035 1210 1.355 3,560 3,110 700 950 2016 2017 S 320 350 Accounts payable Cash Accounts rec Inventory Total Net fixed assets Total assets 1,180 1,080 Long-term debt 2,090...
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