Review the Eli Lilly financial statements contained in ID5 14 and, based on the following assumptions, prepare a simplified 2015 income statement and balance sheet Sales growth in 2015 is 5 percent Expense to sales ratio is 85 percent Total assets to sales ratio remains at the same level as at the ...

2014 Historic Relationship Sales 19616 NA Total Assets 37178 190 times Sales Total Liabilities 21790 ...

Review the Eli Lilly financial statements contained in ID5-14 and, based on the following assumptions, prepare a

Question:

Review the Eli Lilly financial statements contained in ID5-14 and, based on the following assumptions, prepare a simplified 2015 income statement and balance sheet.

Sales growth in 2015 is 5 percent.
Expense to sales ratio is 85 percent.
Total assets to sales ratio remains at the same level as at the end of 2014.
Total liabilities to total assets ratio remains at the same level as at the end of 2014.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...

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