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10. First image is the info you need to solve it HOPINGTON TOURS INC. 2012 Statement of Comprehensive Income Sales Costs $ 750,000 585,000 21,000

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HOPINGTON TOURS INC. 2012 Statement of Comprehensive Income Sales Costs $ 750,000 585,000 21,000 Other expenses $ 144,000 Earnings before interest and taxes Interest paid 17,000 Taxable income $ 127,000 38,100 Taxes ((expression error)%) Net income $ 88,900 Dividends $ 20,320 68,580 Addition to retained earnings HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2012 Assets Current assets Current liabilities Cash $ 26,000 Accounts payable Notes payable $ 68,700 17,700 Accounts receivable 41,400 Inventory 87,600 Total $ 86,400 Total $ 155,000 $ 133,000 Long-term debt Owners' equity Fixed assets Common stock and paid-in surplus $ 119,000 Retained earnings Net plant and equipment $ 300,400 117,000 Total $ 236,000 Total assets $455,400 Total liabilities and owners' equity $ 455,400 Liabilities and Owners' Equity Consider the PDF attachment above containing the most recent financial statements for Hopington Tours Inc. Your manager has asked you to prepare proforma statements with the following assumptions: Sales for 2013 are projected to grow by 25%. Interest dollar expense will remain constant. The tax rate will remain constant, but the dividend payout rate will increase to 25% of net income. Costs, other expenses, current assets, and accounts payable are expected to vary directly with sales, but all other debt and equity do not vary with sales. Assume that the firm is operating its fixed assets at full capacity. Calculate the following [IMPORTANT: Do NOT use commas in your response. Express your final answer with no decimals. (e.g., 91234)]: Projected EBIT = :$ Projected Net Income = $ Projected addition (increase) to Retained Earnings = $ Projected addition (increase) to Total Assets = $

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