Question
Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Balance Sheet Sales $ 30,100 Assets $ 21,050 Debt
| Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): |
| Income Statement | Balance Sheet | ||||||||||
| Sales | $ | 30,100 | Assets | $ | 21,050 | Debt | $ | 6,550 | |||
| Costs | 24,380 | Equity | 14,500 | ||||||||
| Net income | $ | 5,720 | Total | $ | 21,050 | Total | $ | 21,050 | |||
| 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. |
| Create the pro forma statements and reconcile them. (Input all answers as positive values. Do not round intermediate calculations.) |
| What is the plug variable? |
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Personal Finance Version 3.1
Authors: Rachel S. Siegel
3rd Edition
1453334807, 978-1453334805
