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Consider the following statement of comprehensive income for the Dartmoor Corporation: IMIDOR CORPORATION Statement of comprehensive Income Sales Costs Taxable income Taxes (34%) Net income
Consider the following statement of comprehensive income for the Dartmoor Corporation: IMIDOR CORPORATION Statement of comprehensive Income Sales Costs Taxable income Taxes (34%) Net income Dividends $2,500 Addition to retained earnings 7,705 $47,089 31,300 $15,769 5,338 $19,362 The statement of financial position for the Dartmoor Corporation follows. Assets Current assets Cash Accounts receivable Inventory Total DARTMOOR CORPORATION Statement of Financial Position Liabilities 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 $41,300 Retained earnings Total $54,750 Total liabilities and owners' equity $ 2,490 5,400 $ 7,800 $28,000 Fixed assets Net plant and equipment $15,000 3,95e $18,950 554,750 Total assets Check my work 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 S sign in your response.) Assets 5 Current assets Cash Accounts receivable Inventory Total CARTOOR CORPORATION Pro Forwa Statement of Financial Position Liabilities and Owners Equity Current liabilities Accounts payable Notes payable Total Longtere debt Owners' equity Common stock and paid in surplus Retained earnings Total 5 $ Fixed assets Net plant and equipment $ $ Total assets Total liabilities and owners' equity 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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