Homework Answers
Answer is $6,593
Depreciation, 2016 = $6,010
Increase in Sales = 9.70%
Depreciation, 2017 = Depreciation, 2016 + Depreciation, 2016 *
Increase in Sales
Depreciation, 2017 = $6,010 + 9.70% * $6,010
Depreciation, 2017 = $6,010 + $583
Depreciation, 2017 = $6,593
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Use the information about Jim Espresso to answer the following question(s): Jim's Espresso Income Statement (2016)...
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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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Use the information about Jim's 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 Interest 580 Pretax Income 91,920 Income Taxes (35%) 32,172 Net Income 59,748 Using the percent of sales method, and assuming 9.7% growth in sales, estimate Jim's Espresso
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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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