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Lap Dogs Inc. is planning for next year and has the summarized results given below. The firm pays interest of 13% on all borrowing and

Lap Dogs Inc. is planning for next year and has the summarized results given below.

The firm pays interest of 13% on all borrowing and is subject to an overall tax rate of 39%. It paid interest of $10,000 this year and plans a $65,000 dividend next year. Complete Lap Dog's forecast of next year's financial statements. Enter your answers in thousands. For example, an answer of $12 thousands should be entered as 12, not 12,000. Enter all amounts as a positive numbers.

Income Statement ($000)
EBIT $211
Interest
EBT $
Income Tax
Net Income $
Balance Sheet ($000)
This Year Next Year
Assets $537 $769
Current Liabilities 63 80
Debt 260
Equity 214
Total Liab & Equity $537

$769

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