Sales $700 Operating costs including depreciation 500 EBIT $200 Interest 40 EBT $160 Taxes (40%) 64 Net income $ 96 Dividends $ 32 Addition to retained earnings $ 64

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Broussard Skateboard's sales are expected to increase by 20% from $8.4 million in 2019 to $10.08 million in 2020. Its assets totaled $5 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 6%, and the forecasted payout ratio is 55%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar. $

​Jim's Espresso expects sales to grow by 10.4% next year. Assume that​ Jim's pays out 85.9% of its net income. Use the following statements LOADING... and the percent of sales method to​ forecast: a.​ Stockholders' equity b. Accounts payable   The Tax Cuts and Jobs Act of 2017 temporarily allows​ 100% bonus depreciation​ (effectively expensing capital​ expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career.   Income Statement    Sales    $205,430Costs Except Depreciation    (99,920)EBITDA    $105,510Depreciation    (6,070)EBIT    $99,440Interest Expense (net)    (570)Pretax Income    $98,870Income Tax    (34,605)Net Income    $64,265   Balance Sheet    Assets    Cash and Equivalents    $14,920Accounts Receivable    2,010Inventories    3,950Total Current Assets    $20,880Property, Plant and Equipment    10,070Total Assets    $30,950    Liabilities…

The following tables summarizes the 2019 income statement and end-year balance sheet of Drake’s Bowling Alleys. Drake’s financial manager forecasts a 10% increase in sales and costs in 2020. The ratio of sales to average assets is expected to remain at 0.40. Interest is forecasted at 5% of debt at the start of the year.   INCOME STATEMENT, 2019 (Figures in $ thousands) Sales $ 1,120   (40% of average assets)a Costs   840   (75% of sales) Interest   26   (5% of debt at start of year)b Pretax profit $ 254     Tax   101   (40% of pretax profit) Net income $ 152       a Assets at the end of 2018 were $2,700,000. b Debt at the end of 2018 was $530,000.   BALANCE SHEET, YEAR-END (Figures in $ thousands) Assets   $ 2,900       Debt $ 530                 Equity   2,370   Total   $ 2,900         $ 2,900       a. What is the implied level of assets at the end of 2020? (Do not round your intermediate calculations. Enter your answer in thousands.) b. If the…

Broussard Skateboard's sales are expected to increase by 25% from $8.8 million in 2019 to $11.00 million in 2020. Its assets totaled $5 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 3%, and the forecasted payout ratio is 45%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar.