Information from the financial statements of the Heir Jordan Corporation are shown below. Prepare the pro forma financial statements and calculate EFN, assuming a 15 percent increase in sales, no new external debt or equity financing, and a constant payout ratio. Sales Costs Cash Accounts receivable Inventory Net plant and equipment Accounts payable Notes payable Long-term debt Common stock Retained earnings Dividends Net income Increase in sales Tax rate $ $ $ $ $ LA GA $ $ 46,000 37,600 2,950 4,100 6,400 41,300 2,400 5,400 28,000 15,000 3,950 2,880 6,552 15% 21%
Information from the financial statements of the Heir Jordan Corporation are shown below. Prepare the pro forma financial statements and calculate EFN, assuming a 15 percent increase in sales, no new external debt or equity financing, and a constant payout ratio. Sales Costs Cash Accounts receivable Inventory Net plant and equipment Accounts payable Notes payable Long-term debt Common stock Retained earnings Dividends Net income Increase in sales Tax rate $ $ $ $ $ LA GA $ $ 46,000 37,600 2,950 4,100 6,400 41,300 2,400 5,400 28,000 15,000 3,950 2,880 6,552 15% 21%
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...
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