Problem 2: Trody Co., from the previous problem, wants to prepare forecasted financial statements for the year 2015 using the percent of sales method, and the below additional given (Round numbers to the nearest dollar): Given forecasted sales of 2015: $6,500 The tax rate will be 40% in 2015. The company expected to distribute dividends of $750 in 2015. The interest rate on all interest-bearing loans will be 5% annually in 2015. e- The company is not intending to make changes to its fixed assets a- b- C- d- 1- The forecasted cost of goods sold for 2015 is expected to be: " O a) $3,300 O b) $3,738 c) $3,000 O d) $4,250 e) None of the above.
Problem 2: Trody Co., from the previous problem, wants to prepare forecasted financial statements for the year 2015 using the percent of sales method, and the below additional given (Round numbers to the nearest dollar): Given forecasted sales of 2015: $6,500 The tax rate will be 40% in 2015. The company expected to distribute dividends of $750 in 2015. The interest rate on all interest-bearing loans will be 5% annually in 2015. e- The company is not intending to make changes to its fixed assets a- b- C- d- 1- The forecasted cost of goods sold for 2015 is expected to be: " O a) $3,300 O b) $3,738 c) $3,000 O d) $4,250 e) None of the above.
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 14P
Related questions
Question
![Problem 2:
Trody Co., from the previous problem, wants to prepare forecasted financial statements for the year 2015
using the percent of sales method, and the below additional given (Round numbers to the nearest dollar):
Given forecasted sales of 2015: $6,500
b- The tax rate will be 40% in 2015.
The company expected to distribute dividends of $750 in 2015.
The interest rate on all interest-bearing loans will be 5% annually in 2015.
The company is not intending to make changes to its fixed assets
a-
C-
d-
e-
1- The forecasted cost of goods sold for 2015 is expected to be:
O a) $3,300
Ob) $3,738
c) $3,000
d) $4,250
e) None of the above.
2- Forecasted fixed expenses amount for 2015 is expected to ber](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9474faf6-6699-4ddf-8cd5-4ed39be530c3%2Fe2643710-ae95-43a7-904d-26ac8f4eb8e1%2Fskx875q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 2:
Trody Co., from the previous problem, wants to prepare forecasted financial statements for the year 2015
using the percent of sales method, and the below additional given (Round numbers to the nearest dollar):
Given forecasted sales of 2015: $6,500
b- The tax rate will be 40% in 2015.
The company expected to distribute dividends of $750 in 2015.
The interest rate on all interest-bearing loans will be 5% annually in 2015.
The company is not intending to make changes to its fixed assets
a-
C-
d-
e-
1- The forecasted cost of goods sold for 2015 is expected to be:
O a) $3,300
Ob) $3,738
c) $3,000
d) $4,250
e) None of the above.
2- Forecasted fixed expenses amount for 2015 is expected to ber
![TOJUEHRE ZsBMUqPCOIQg9pNQ4sA3A6UFFh9Hjng/formResponse?pli=1
xt
2014
2013
Lease expense
55.00
55.00
Plant & Equipment
5,170.00
4,910.00
Long term debt
3,220.00
3,122.00
Common stock
1.550.00
1,300.00
Addition al paid in capital
572.00
542.00
Accumulated depreciation
170.00
136.00
Land
350.00
270.00
Accounts Payable
380.00
300.00
Notes payable
44.00
25.00
Other currenti liabilities
242.00
211.00
Depreciation expense
34.00
30.00
Selling end G&A expenses
765.00
632.00
Seles
6,000.00
4,250.00
Cost of goods sold
3,300.00
2,550.00
Fixed expenses
100.00
100.00
Interest expense
150.00
110,00
Cash
121.00
80.00
Accounts receivable
370.00
847.00
925.00
752.00
Inventory
758,00
723.00
Retained earnings
35%
35%
Тax rate
A do ENG](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9474faf6-6699-4ddf-8cd5-4ed39be530c3%2Fe2643710-ae95-43a7-904d-26ac8f4eb8e1%2F57rg7r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:TOJUEHRE ZsBMUqPCOIQg9pNQ4sA3A6UFFh9Hjng/formResponse?pli=1
xt
2014
2013
Lease expense
55.00
55.00
Plant & Equipment
5,170.00
4,910.00
Long term debt
3,220.00
3,122.00
Common stock
1.550.00
1,300.00
Addition al paid in capital
572.00
542.00
Accumulated depreciation
170.00
136.00
Land
350.00
270.00
Accounts Payable
380.00
300.00
Notes payable
44.00
25.00
Other currenti liabilities
242.00
211.00
Depreciation expense
34.00
30.00
Selling end G&A expenses
765.00
632.00
Seles
6,000.00
4,250.00
Cost of goods sold
3,300.00
2,550.00
Fixed expenses
100.00
100.00
Interest expense
150.00
110,00
Cash
121.00
80.00
Accounts receivable
370.00
847.00
925.00
752.00
Inventory
758,00
723.00
Retained earnings
35%
35%
Тax rate
A do ENG
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