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I only want the retained earnings, Total, Total liabilities and EFN. Please. Consider the following Income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION
I only want the retained earnings, Total, Total liabilities and EFN. Please.
Consider the following Income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement $43,500 34,100 Sales Costs Taxable income Taxes (24%) $ 9,400 2,256 Net Income $ 7,144 Dividends Addition to retained earnings $ 2.515 4,629 The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 2,550 Accounts payable $ 2,400 Accounts receivable 3,800 Notes payable 5,100 Inventory 9,000 Total $ 7,500 Total $ 15,350 Long-term debt $24,000 Owners' equity Common stock and paid in surplus $38,000 Retained earnings Fixed assets Net plant and equipment $ 16,000 5,850 Total $ 21,850 Total assets $53,350 Total liabilities and owners equity $53,350 Prepare a pro forma balance sheet, assuming an increase in sales of 15 percent, no new external debt or equity financing, and a constant payout ratio. (Do not round Intermediate calculations and round your answers to 2 decimal places, e... 32.16.).. * Answer is not complete. HEIR JORDAN CORPORATION Pro Forma Balance Sheet Liabilities and Owners' Equity Current liabilities Assets Current assets Cash $ $ 2.932.50 4,370.00 Accounts receivable Inventory Total 2.760.00 5,100.00 7,860.00 24,000.00 10,350.00 s s 17,652.50 IS Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid in surplus Retained earnings Total Total liabilities and owners' equity Fixed assets s 16,000.00 Net plant and equipment $ 43,700.00 Total assets $ 81,352.50 Calculate the EFN. (A negative answer should be indicated by a minus sign. Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) EFNStep by Step Solution
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