Question
Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes): Income Statement Sales $39042 Costs $21105 Balance Sheet Assets $57270 Debt
Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes):
| Income Statement | |
| Sales | $39042 |
| Costs | $21105 |
| Balance Sheet | |||
| Assets | $57270 | Debt | $34108 |
|
|
| Equity | ? |
The company has predicted a sales increase of 14 percent. It has predicted that every item on the balance sheet will increase by 14 percent as well.
What is the pro forma total equity? (after reconciling the pro forma balance sheet)
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International Fraud Handbook
Authors: Joseph T. Wells
1st Edition
1118728505, 9781118728505
