the most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales...
the most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales $ 7,900 Current assets $ 3,900 Current liabilities $ 2,100 Costs 5,500 Fixed assets 8,600 Long-term debt 3,700 Taxable income $ 2,400 Equity 6,700 Taxes (25%) 600 Total $ 12,500 Total $ 12,500 Net income $ 1,800 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year’s sales are projected to increase by exactly 15 percent. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Homework Answers
| Sales(7900*1.15) | 9085 |
| Costs(5500*1.15) | 6325 |
| Taxable income | $2760 |
| Taxes(25%*$2760) | $690 |
| Net income | $2070 |
| Less:Dividends($2070*40%) | $828 |
| Addition to retained earnings | $1242 |
Total assets would be=$12500*1.15=$14375
Total equity would be=$6700+Addition to retained earnings
=(6700+1242)=$7942
Total current liabilities would be=$2100*1.15=$2415
Total liabilities would be=Current liabilities+Long term debt
=(2415+3700)=$6115
Total liabilities and equity=Total liabilities+Equity
=(6115+7942)=$14057
Total assets=Total liabilities+Total equity
Hence external financing needed=$14375-$14057
=$318.
Add Answer to:
the most recent financial statements for Assouad, Inc., are
shown here: Income Statement Balance Sheet Sales...
The most recent financial statements for Assouad, Inc., are shown here: Balance Sheet Income Statement Sales...
The most recent financial statements for Assouad, Inc., are shown here: Balance Sheet Income Statement Sales Costs Taxable $3.200 Current $5,400 liabilities assets Current $ 3,300 Long-term 4,820 7,900 Fixed assets 10,200 Long-term Equity 7,480 income Taxes (24%) 768 Total $15,600 Total $15,600 Net income $2,432 Assets, costs, and current liabilities are proportional to sales. Long-term deb are not. The company maintains a constant 40 percent dividend payout ra every other firm in its industry, next year's sales are projected...
The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales...
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The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales...
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The most recent financial statements for Assouad, Inc., are shown here: Income Statement Sales Costs Balance...
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