Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
From Following Historical data of 2019 of Firm, Calculate their Financial Forecast of 2020. HISTORICAL DATA of FIRM 2019 Revenues from Operations 2000 Other Income
From Following Historical data of 2019 of Firm, Calculate their Financial Forecast of 2020.
HISTORICAL DATA of FIRM | 2019 |
---|---|
Revenues from Operations | 2000 |
Other Income | 8 |
Total Income | 2008 |
EXPENSES | |
Material expenses (Raw Material) | 500 |
Employee benefit expenses | 265 |
Finance Costs (Interest & others) | 160 |
Depreciation and Amortisation | 75 |
Other Expenses | 90 |
Total Direct / Indirect Expenses | 1090 |
Profit before Exceptional Item & Tax | 154 |
Exceptional Tax | 30 |
Profit before tax (EBIT) | 726 |
Tax Expenses | 217.8 |
PBT from Continuing operations | 508.2 |
Other Comprehensive Income | 10 |
Total Comprehensive Income for the year | 518.2 |
Dividends | 34 |
RETAINED EARNINGS | 484.2 |
Also Calculate Dividends & Retained Earnings for 2020. Assume Tax rate at 30%. Assume New Sales to be 2500 for the year 2020.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started