caculate retained earnings
Current Assets Provide projected Income Statement, Retained ning statement and Projected on the using the following sumptions: sales growth 20 sales return percentage et sales revenue, does not comes 2 Gross profit margin is the same as 2014 profit margin 3 Depreciation expense/Prior PP pron) 4 interest expense/Prior year long-term debit All other expenses insurance, supplies, utilities, bad debt and rent prow at the same Income tax expense/ pre-tax income -12% 7 A/R turnover is the same as that calculated for year 2014 8 A/P turnover is the same as that calculated for year 2014 9 tnventory tumover is the same as that calculated for year 2014 10 There is no change in current assets other than Cash A/R and inventory 11 Capital expenditure/Sales 12 Assume no change in long-term assets except for PPE. 13 Assume no change in all liabilities, excpet for A/P 14 Assume no change in shareholders' Equity except for Retained Earnings 15 No dividend is paid on common stock and dividend is paid on preferred to K L CAPTAIN JET INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015 Retained Earnings, Beginning of the year Net Income/Loss Dividends Payment Retained Earnings, End of the year D B E H Provide projected Income Statement, Retained Earnings statement and Projected Balance Sheet on the right using the following assumptions: 3 1 2 3 4 15 16 17 18 19 20 21 1 sales growth is 10%; sales return, as a percentage of sales revenue, does not change 2 Gross profit margin is the same as 2014 profit margin 3 Depreciation expense/Prior PPE (gross) = 4% 4 Interest expense/Prior year long-term debt=6% 5 All other expenses (insurance, supplies, utilities, bad debt and rent) grow at the same rate as sales growth, 6 Income tax expense/ pre-tax income = 12% 7 A/R turnover is the same as that calculated for year 2014 8 A/P turnover is the same as that calculated for year 2014 9 Inventory turnover is the same as that calculated for year 2014 10 There is no change in current assets other than Cash, A/R and inventory 11 Capital expenditure/Sales -7% 12 Assume no change in long-term assets except for PP&E. 13 Assume no change in all liabilities, excpet for A/P 14 Assume no change in shareholders' Equity except for Retained Earnings 15 No dividend is paid on common stock and 5% dividend is paid on preferred stock Current Assets Provide projected Income Statement, Retained ning statement and Projected on the using the following sumptions: sales growth 20 sales return percentage et sales revenue, does not comes 2 Gross profit margin is the same as 2014 profit margin 3 Depreciation expense/Prior PP pron) 4 interest expense/Prior year long-term debit All other expenses insurance, supplies, utilities, bad debt and rent prow at the same Income tax expense/ pre-tax income -12% 7 A/R turnover is the same as that calculated for year 2014 8 A/P turnover is the same as that calculated for year 2014 9 tnventory tumover is the same as that calculated for year 2014 10 There is no change in current assets other than Cash A/R and inventory 11 Capital expenditure/Sales 12 Assume no change in long-term assets except for PPE. 13 Assume no change in all liabilities, excpet for A/P 14 Assume no change in shareholders' Equity except for Retained Earnings 15 No dividend is paid on common stock and dividend is paid on preferred to K L CAPTAIN JET INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015 Retained Earnings, Beginning of the year Net Income/Loss Dividends Payment Retained Earnings, End of the year D B E H Provide projected Income Statement, Retained Earnings statement and Projected Balance Sheet on the right using the following assumptions: 3 1 2 3 4 15 16 17 18 19 20 21 1 sales growth is 10%; sales return, as a percentage of sales revenue, does not change 2 Gross profit margin is the same as 2014 profit margin 3 Depreciation expense/Prior PPE (gross) = 4% 4 Interest expense/Prior year long-term debt=6% 5 All other expenses (insurance, supplies, utilities, bad debt and rent) grow at the same rate as sales growth, 6 Income tax expense/ pre-tax income = 12% 7 A/R turnover is the same as that calculated for year 2014 8 A/P turnover is the same as that calculated for year 2014 9 Inventory turnover is the same as that calculated for year 2014 10 There is no change in current assets other than Cash, A/R and inventory 11 Capital expenditure/Sales -7% 12 Assume no change in long-term assets except for PP&E. 13 Assume no change in all liabilities, excpet for A/P 14 Assume no change in shareholders' Equity except for Retained Earnings 15 No dividend is paid on common stock and 5% dividend is paid on preferred stock
