22:12 9.65% Midterm Paper-FSP-Fall 2020 (1) - Read-only Sign in to edit and save changes to this file. = 819 Q No 4 Using the following income statement balance sheet and additional information complete the tasks mention below Income Statement Sale 4.200 Operating costs 3.780 EBIT 420 Interest 120 300 TAS (40%) 120 Net Income 100 Dividents 0 Addison retained aming 180 Balance Sheel Cash marketables 42 Ancounts receivable 3318 Inventories rrent Ass Notified as 2582 Total 3.381 Accounts payable and accruals 168 Nobos payable 250 Current lattias 418 Long term dat 700 Common stock 400 Rotained earnings 1863 Total.labies and eauty 12281 In developing its forecast for the upcoming year, the company has assembled the following information: Sales are expected to increase 8% this upcoming year Operating costs are expected to remain at 90% of sales Cash and marketable securities are expected to remain at 1% of sales Accounts receivable are expected to remain at 8% of sales Due to excess capacly the company aspects that its year and inventories will remain at current lovels Fixed assets are expected to remain at 61% of sales Spontaneous labies (ccounts payable and sccruals) are expected to increase at the same rate as sales. III 22:12 9.65% Midterm Paper-FSP-Fall 2020 (1) - Read-only Sign in to edit and save changes to this file. = 819 Q No 4 Using the following income statement balance sheet and additional information complete the tasks mention below Income Statement Sale 4.200 Operating costs 3.780 EBIT 420 Interest 120 300 TAS (40%) 120 Net Income 100 Dividents 0 Addison retained aming 180 Balance Sheel Cash marketables 42 Ancounts receivable 3318 Inventories rrent Ass Notified as 2582 Total 3.381 Accounts payable and accruals 168 Nobos payable 250 Current lattias 418 Long term dat 700 Common stock 400 Rotained earnings 1863 Total.labies and eauty 12281 In developing its forecast for the upcoming year, the company has assembled the following information: Sales are expected to increase 8% this upcoming year Operating costs are expected to remain at 90% of sales Cash and marketable securities are expected to remain at 1% of sales Accounts receivable are expected to remain at 8% of sales Due to excess capacly the company aspects that its year and inventories will remain at current lovels Fixed assets are expected to remain at 61% of sales Spontaneous labies (ccounts payable and sccruals) are expected to increase at the same rate as sales