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1> es Dictate Editor Voice Editor Styles Chapter 4 (Page 140): Question 9: Dividend Payout Ratio Dividend payout / Net income. = $2,500/$10,205 = $0.244978 Pro Forma Statement of Comprehensive Income Sales (547,000 (12) Costs (31300)(1-2) Taxable income Taxes (518,840) (3.4%) Dividends ($12,434,40) (0.244978) = 53,046.15 Addition to Retained Earings $9,388.25 The projected addition to retained earnings is $9,385.25 Cuestion 10: Datens Corporation statement of Financial Position Assets Liabilities and Owners Equity of Sales 5 Sor Sales Current Assets Cash $2.950 6.30% Current Cabilities Accounts Payable Notes Payable 52100 5.10 $4,100 8.70% 55.400 N/A Accounts Receivable Inventory 56.400 13,60 Total $7,800 N/A Total $13.450 28.60 525.000 N/A Long-term Debt Owners Equity Fixed Assets $41.300 87.90 N/A Net Plant Equipment Common Stock 515,000 and Paid Surplus Retained 53,950 Earnings Total SHO Total Assets $54,750 116 SON N/A N/A SS4.750 N/A Total Labies and Owners Equity 9. Calculating Retained Earnings from Pro Forma Income (L03) Con the following statement of comprehensive income for the Dartmoor Corporation: DARTMOOR CORPORATION Statement of Comprehensive Income Sales Costs Taxable income Thun (30) Net income Dividends $2.500 Addition to retained earnings 7,705 $47,000 31.300 515,700 5.495 $10.205 A 20% growth rate in sales is projected. Prepare a proforma statement of comprehensive income assuming costs vary with sales and the dividend payout ratio is constant. What is the projected addition to retained earnings? 10. Applying Percentage of Sales (L03) The statement of financial position for the Dartmoor Corporation follows. Based on this information and the statement of comprehensive income in the previous problem, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. Put "n/a" where needed. Assets DARTMOOR CORPORATION Statement of Financial Position Liabilities and Owners' Equity Percentage Percentage of Sales 3 Current assets of Sales $ 2950 4,100 5.400 6400 Cash Accounts receivable Inventory Total Fixed assets Net plant and $12.450 Current liabilities Accounts payable $ 2,400 Notes payable Total $7800 Long-term debit $28.000 Ownesequitu Common stock and $15,000 paid-in surplus Retained earnings 33.950 Total $18.950 Total liabilities and 154.750 cwners empty equipment Total assets 541300 $54.250 11. EFN and Sales (L02, 3) From the previous two questions, prepare a pro forma statement of financial position showing EFN, assuming a 15% increase in sales, no new external debt or equity financing, and a constant payout ratio. 12 Internal Growth In