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Consider the following statement of comprehensive income for the Dartmoor Corporation: DATTOOR CORPORATION Statement of Comprehensive Income Sales costs Taxable income Taxes (34%) Net income
Consider the following statement of comprehensive income for the Dartmoor Corporation: DATTOOR CORPORATION Statement of Comprehensive Income Sales costs Taxable income Taxes (34%) Net income Dividends $2,500 Addition to retained earnings 7,705 $47,000 31,300 $15,700 5,338 $10,362 The statement of financial position for the Dartmoor Corporation follows. $ 2,400 Assets Current assets Cash Accounts receivable Inventory Total DARTMOOR CORPORATION Statement of Financial Position abilities and Owners' Equity Current liabilities $ 2,950 Accounts payable 4,100 Notes payable 6,400 Total $13,450 Long term debt Owners' equity Common stock and paid-in surplus $41, 3 Retained earnings Total 554,750 Total liabilities and owners' equity $ 7,800 $28.000 Fixed assets Net plant and equipment $15,000 3.950 $13.950 554,750 Total assets Prepare a pro forma statement of financial position, assuming a 15% increase in sales, no new external debt or equity financing, and a constant payout ratio (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) Assets Current assets Cash Accounts receivable Inventory Total DATOR CORPORATION Pro Forna Statement of Financial Position abilities and ownerstuulty Current liabilities Accounts payable Notes payable Total Longter det Chest equity Co stock and poldin surplus Retained earning Total Totalities and melty $ Fixed assets Net plant and equipment 1 Total assets Calculate the EFN (Do not round intermediate calculations Negative answer should be indicated by a minus sign. Round the final answer to 2 decimal places. Omit sign in your response.) EFN
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