HW Chapter 2A O Help Save Exit Submit Check my work 7 Problem 2 37 Income Statement (LG2 1) 2 5 points Listed below is the 2021 incarne statement for Tom and Suc Travels, Inc check TON AND SUE TWELS, INC Incone Statenent for Year Ending December 31, 2021 in millions of dollars Net sales s19 600 Less Cost of goods sold 9 063 Gross profits s16 688 Less Other operating expenses 4 158 Earnings before interest, taxes, depreciation and emortization (EBITDA) 5 6 450 Less Degreciation 3 819 Earnings before interest and taxes (EBIT) Less Interest 0 810 Earnings before taxes (EBT) S 1 810 Less Taxes 0 388 Net incente S 1 438 PH 5 2 658 A The CEO of Tom and Sue's wants the company to eam a net income of $3 200 million in 2022 Cost of goods sold is expected to be 60 percent of net sales depreciation and other operating expenses are not expected to change, interest experise is expected to Increase to S1 306 million, and the firm's tax rate will be 21 percent Calculate the net sales needed to produce net income of $3 200 million Enter your answer In millons of dollars rounded to 3 decimal places ) Notsalas milion HW Chapter 2A A Help Save Exit Submit Check my work 8 Problem 2 38 Income Statement (LG2 1) 2 5 points You have been given the following Information for PattyCake's Athletic Wear Corp for the year 2021 eBook 3 Net sales $38,550,000 b Cost of goods sold $22,150,000 Other operating expenses $5,700,000 d Addition to retained eamings 51,203,500 e Dividends paid to preferred and common stockholders $1,925 500 1 Interest expense $1,815 000 g The firm's tax rate is 30 percent RIP in 2022 h Net sales are expected to increase by $9 55 million i Cost of goods sold is expected to be 60 percent of net sales j Depreciation and other operating expenses are expected to be the same as in 2021 k Interest expense is expected to be $2,090,000 1 The tax rate is expected to be 30 percent of EBT m Dividends paid to preferred and common stockholders will not change Calculate the addition to retained earnings expected in 2022 (Enter your answer in dollars, not millions ) Addition to remained amings

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HW Chapter 2A O Help Save   Exit Submit Check my work 7 Problem 2 37 Income Statement (LG2 1) 2 5 points Listed below is the 2021 incarne statement for Tom and Suc Travels, Inc  check TON AND SUE TWELS, INC  Incone Statenent for Year Ending December 31, 2021 in millions of dollars Net sales s19 600 Less  Cost of goods sold 9 063 Gross profits s16 688 Less  Other operating expenses 4 158 Earnings before interest, taxes, depreciation and emortization (EBITDA) 5 6 450 Less  Degreciation 3 819 Earnings before interest and taxes (EBIT) Less  Interest 0 810 Earnings before taxes (EBT) S 1 810 Less  Taxes 0 388 Net incente S 1 438 PH 5 2 658 A  The CEO of Tom and Sue's wants the company to eam a net income of $3 200 million in 2022  Cost of goods sold is expected to be 60 percent of net sales depreciation and other operating expenses are not expected to change, interest experise is expected to Increase to S1 306 million, and the firm's tax rate will be 21 percent  Calculate the net sales needed to produce net income of $3 200 million   Enter your answer In millons of dollars rounded to 3 decimal places ) Notsalas milion HW Chapter 2A A Help Save   Exit Submit Check my work 8 Problem 2 38 Income Statement (LG2 1) 2 5 points You have been given the following Information for PattyCake's Athletic Wear Corp  for the year 2021 eBook 3  Net sales   $38,550,000 b  Cost of goods sold   $22,150,000  Other operating expenses   $5,700,000 d  Addition to retained eamings   51,203,500  e  Dividends paid to preferred and common stockholders   $1,925 500  1  Interest expense   $1,815 000  g  The firm's tax rate is 30 percent RIP in 2022 h  Net sales are expected to increase by $9 55 million i  Cost of goods sold is expected to be 60 percent of net sales  j  Depreciation and other operating expenses are expected to be the same as in 2021 k  Interest expense is expected to be $2,090,000 1  The tax rate is expected to be 30 percent of EBT  m  Dividends paid to preferred and common stockholders will not change  Calculate the addition to retained earnings expected in 2022  (Enter your answer in dollars, not millions ) Addition to remained amings

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HW Chapter 2A O Help Save & Exit Submit Check my work 7 Problem 2-37 Income Statement (LG2-1) 2.5 points Listed below is the 2021

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