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Amounts are in thousands of dollars (except number of shares and price per share): Kiwi Fruit Company Balance Sheet Cash and equivalents $ 570 Operating
Amounts are in thousands of dollars (except number of shares and price per share): |
Kiwi Fruit Company Balance Sheet | ||
Cash and equivalents | $ | 570 |
Operating assets | 650 | |
Property, plant, and equipment | 2,700 | |
Other assets | 110 | |
Total assets | $ | 4,030 |
Current liabilities | $ | 920 |
Long-term debt | 1,280 | |
Other liabilities | 120 | |
Total liabilities | $ | 2,320 |
Paid in capital | $ | 340 |
Retained earnings | 1,370 | |
Total equity | $ | 1,710 |
Total liabilities and equity | $ | 4,030 |
Kiwi Fruit Company Income Statement | |||
Net sales | $ | 7,800 | |
Cost of goods sold | (5,900 | ) | |
Gross profit | $ | 1,900 | |
Operating expense | (990 | ) | |
Operating income | $ | 910 | |
Other income | 105 | ||
Net interest expense | (200 | ) | |
Pretax income | $ | 815 | |
Income tax | (285 | ) | |
Net income | $ | 530 | |
Earnings per share | $ | 2.00 | |
Shares outstanding | 265,000 | ||
Recent price | $ | 34.50 |
Kiwi Fruit Company Cash Flow Statement | |||
Net income | $ | 530 | |
Depreciation and amortization | 175 | ||
Changes in operating assets | (90 | ) | |
Changes in current liabilities | (120 | ) | |
Operating cash flow | $ | 495 | |
Net additions to properties | $ | 180 | |
Changes in other assets | (80 | ) | |
Investing cash flow | $ | 100 | |
Issuance/redemption of long-term debt | $ | (190 | ) |
Dividends paid | (220 | ) | |
Financing cash flow | $ | (410 | ) |
Net cash increase | $ | 95 | |
Prepare a pro forma income statement, balance sheet, and cash flow statement for Kiwi Fruit assuming a 10 percent increase in sales.(Leave no cells blank - be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign.Input all amounts as thousands of dollars. Round earnings per share to 2 decimal places.Omit the "$" sign in your response.) |
Kiwi Fruit Company Pro Forma Income Statement | |
Net sales | $ |
Cost of goods sold | |
Gross profit | $ |
Operating expense | |
Operating income | $ |
Other income | |
Net interest expense | |
Pretax income | $ |
Income tax | |
Net income | $ |
Earnings per share | $ |
Shares outstanding |
Kiwi Fruit Company Pro Forma Cash Flow Statement | |
Net income | $ |
Depreciation and amortization | |
Changes in operating assets | |
Changes in current liabilities | |
Operating cash flow | $ |
Net additions to property | $ |
Changes in other assets | |
Investing cash flow | $ |
Issuance/redemption of long-term debt | $ |
Dividends paid | |
Financing cash flow | $ |
Net cash increase | $ |
Kiwi Fruit Company Pro Forma Balance Sheet | |
Cash and equivalents | $ |
Operating assets | |
Property, plant, and equipment | |
Other assets | |
Total assets | $ |
Current liabilities | $ |
Long-term debt | |
Other liabilities | |
Total liabilities | $ |
Paid in capital | $ |
Retained earnings | |
Total equity | $ |
Total liabilities and equity | $ |
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