Assume that Global pays out 50% of its net income. Use the percent of sales method to forecast stockholders’ equity (see MyFinanceLab for the data in Excel format).

Use the following income statement and balance sheet for Global Corp.:

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Figures in $ millions 186.7 Assets Net sales Costs Except Depreciation Cash -175.1 23.2 EBITDA Accounts Receivable 18.5 11.6 Depreciation and Amortization Inventories -1.2 15.3 EBIT Total Current Assets 10.4 57 Interest Income (expense) -7.7 Net Property, Plant, and Equipment Pretax Income 2.7 113.1 Тахes -0.7 Total Assets 170.1 Net Income 2.0 Liabilities and Equity Accounts Payable 34.7 Long-Term Debt 113.2 Total Liabilities 147.9 Total Stockholders' Equity 22.2 Total Liabilities and Equity 170.1