2. Lap Dogs Inc. is planning for next year and has the following summarized results so far...
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2. Lap Dogs Inc. is planning for next year and has the following summarized results so far ($000):
The Firm pays interest of 12% on all borrowing and is subject to an overall tax rate of 38%. It paid interest of $20,000 this year and plans a $75,000 dividend next year. Complete Lap Dog’s forecast of next year’s financial statements. Round all calculations to the nearest $1,000.
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