Long term financial planning Exercise The balance sheet and the income statements of the XYZ Corp. are presented as follows Balance Sheet (2009) 2009 22,850 20,385 43,235 Liabilities & Equity 2009 22,050 A/P 13,850 N/P 24,650 Total CL 60,550 LTD Assets Cash A/R Inventory Total CA Common stocks and paid-in-surplus 25,000 167,840 Net Plant and equipment 260,525 Retained earnings Total equities 192,840 321,075 Total Liabilities & Owner's Equity 321,075 Total Assets Income statement (2009) Revenues Cost of Goods Sold Depreciation EBIT Interest paid Taxable Income 305,830 (210,935) (26,850) 68,045 (11,930) 56,115 Taxes (35%) Net Income (19,640) 36,475 20,000 16,475 Dividends Retained earnings