Question
Cattail Corporations financial statements for the fiscal year just ended are shown below: Cattail Corporation Financial Statements for Fiscal Year Just Ended ($ thousands) Income
Cattail Corporations financial statements for the fiscal year just ended are shown below:
| Cattail Corporation | ||||||||||
| Financial Statements for Fiscal Year Just Ended ($ thousands) | ||||||||||
| Income Statement | Balance Sheet | |||||||||
| Net sales | $1,350 | Assets | $780 | Debt | $670 | |||||
| Costs | 450 |
| Equity | $110 | ||||||
| Net income | $900 | Total | $780 | Total | $780 | |||||
Cattail management expects sales to increase by 14 percent next year. Assume that the financial statement accounts vary directly with changes in sales and that management has no financing plan at this time. Given this information, develop a pro forma income statement for Cattail for the next fiscal year.
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Making Auditors Effective Theory Evidence Perspectives
Authors: Mark Schelker
1st Edition
3832934375, 978-3832934378
