complete pro forma statement of financial position and EFN for 25% growth rates
The most recent financial statements for Hopington Tours Inc. follow Sales for 2018 are projected to grow by 25% Interest expense will remain constant the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable increase spontaneously with sales. The firm is operating at full capacity and no new debt or equity is issued HOPINGTON TOURS INC 2017 Statement of comprehensive Income Soles $761,000 Costs 596,000 Other expenses 12.000 Earnings before interest and taxes $140,000 Tnterest paid 10.000 Taxable income $130,000 Taxes (30) 39,000 Net income 5.91.000 Dividends $20,000 Addition to retained earnings 70.200 Assets Current assets Cash Accounts receivable Inventory Torsi HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2017 Libilities and Owners' Equity Current liabilities $ 27,100 Accounts payable 42,500 Notes payable 38,700 Total A 5158,300 Long-ters debt Duerst equity Common stock and paid in surplus 5 69,800 18,800 5 88,600 5144,000 $130,00 Fixed assets Fixed assets Net plant and equipment $380,000 Owners' equity Common stock and paid in surplus Retained earnings Total Total liabilities and owners' equity $130,000 175,700 $385,700 $538,300 Total assets $538,300 Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.) HOPINGTON TOURS INC Pro Forna Statement of Comprehensive Income 25 % Sales Growth $ $ 5 Sales Costs Other expenses EBIT Interest Taxable income Taxes (30%) Net income Dividends Add. to RE $ $ Complete the pro forma statement of financial position below Add. to RE Complete the pro forma statement of financial position below. Assets Current assets Cash Accounts receivable Inventory Total HOPINGTON TOURS INC Pro Forma Statement of Financial Position abilities and Owners' Equity Current abilities $ Accounts payable Notes payable Total Long-term debt Owners equity Common stock and paid in surplus Retained earnings Total Total Ilabilities and owners' equity $ 5 $ $ Fixed assets Net plant and equipment 5 5 $ Total assets Calculate the EFN for 25% growth rates 25% EFN The most recent financial statements for Hopington Tours Inc, follow Sales for 2018 are projected to grow by 25%. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable increase spontaneously with sales. The firm is operating at full capacity and no new debt or equity is issued, HOPINGTON TOURS INC. 2017 Statement of Comprehensive Income Sales $761,000 Costs 596,080 Other expenses 17,000 Earnings before interest and taxes $148,000 Interest paid 18.00 Taxable income $130,000 Taxes (30%) 39,000 Net income $ 91,000 Dividends $20,800 Addition to retained earnings 70,200 Assets Current assets Cash Accounts receivable Inventory Total HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2017 Liabilities and Owners' Equity Current liabilities $ 27,100 Accounts payable 42,500 Notes payable 88,700 Total $156,300 Long-term debt Ohners' equity Common stock and pald-in surplus $380.000 Retained earnings Total $538,300 Total liabilities and owners' equity $ 69,800 18 800 $ 88,600 $144,000 Fixed assets Net plant and equipment $130,000 175,700 $305,700 $538,300 Total assets Complete the pro forma statement of comprehensive income below. (Input all amounts os positive values. Omit S sign in your response.) HOPINGTON TOURS INC. Pro Forma Statement of Comprehensive Incont 25 X Sales Growth $ Sales Costs Other expenses EBIT Interest Taxable Income Taxes (30%) Net Income $ $ Dividends Add to RE Complete the pro forma statement of financial position below. Assets Current assets Cash Accounts receivable Inventory Total HOPINGTON TOURS INC. Pro Forna Statement of Financial Position Liabilities and Owners' Equity Current 11 abilities $ Accounts payable 5 Notes payable $ Total $ Long term debt Owners' equity Common stock and paid in surplus Retained earnings Total 5 Total liabilities and owners' Equity $ $ $ Fixed assets Net plant and equipment $ $ 5 Total assets Calculate the EFN for 25% growth rates 25 5 A EFN
