Homework Answers
With the percent of sales methods, expenses and assets increase at the same rate as sales.
a]
Costs = $99,600 * (1 + 10.1%)
Costs = $109,659.60.
b]
Depreciation = $5,960 * (1 + 10.1%)
Depreciation = $6,561.96.
c]
net income = $67,041 * (1 + 10.1%)
net income = $73,812.14
d]
cash = $15,070 * (1 + 10.1%)
cash = $16,592.07.
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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
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Costs Except Depreciation (99,590)
EBITDA $91,550
Depreciation (6,010)
EBIT $85,540
Interest Expense (net) (570)
Pretax Income $84,970
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Balance Sheet
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Accounts Receivable 2,040
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