Notes for 2024: * Sales are estimated to be $85,000 in 2024 * Assume the following: * COGS are Variable * $2000 of the Operating Expenses are Fixed * Depreciation and the Remainder of the Operating Expenses are Fixed * The firm will maintain its dividend payout ratio this year * Cash, Accounts Receivable, Inventories, Net Plant, Accounts Payable and Accrued Payables are Spontaneous * Market Securities, Bonds Payable and Common Stock are Discretionary * $500 of Bonds Payable are Current and Will be Repaid at the Beginning of the Year Below is the 2023 Income Statement and Balance Sheet data you will be using to complete your forecast. Income Statement For the Year Ended December 31, 2023 Sales 70,000 COGS 45,000 Gross Profit 25,000 Operating Expenses 8,000 Depreciation 5,000 13,000 EBIT 12,000 Interest Expense 1,300 EBT 10,700 Tax Expense 2,247 Earning After Taxes 8,453 Dividends 3,000 Addition to Retained Earnings 5,453 Balance Sheet December 31, 2023 Cash 8,100 Marketable Securities 2,000 Accounts Receivable 10,100 Inventories 6,000 Plant, Net 20,000 Total Assets 46,200 Accounts Payable 7,000 Accrued Payables 3,200 Bonds Payable 10,000 Common Stock 15,000 Retained Earnings 11,000 46,200 External Financing - Total Liabilities and Equity 46,200 Chapter 5 Quiz Excel File 202401-1.xlsx Download Chapter 5 Quiz Excel File 202401-1.xlsx Note: this is a timed quiz. You may check the remaining time you have at any point while taking the quiz by pressing the keyboard combination SHIFT, ALT, and T... Again: SHIFT, ALT, and T... Flag question: Question 1 Question 1 1 pts What is the Gross Profit for 2024? Enter your amount as a whole number, no decimals. Flag question: Question 2 Question 2 1 pts What is the Net Income/Net Loss for 2024? Enter your amount as a whole number, no decimals. Flag question: Question 3 Question 3 1 pts What is the Addition to Retained Earnings for 2024? Enter your amount as a whole number, no decimals. Flag question: Question 4 Question 4 1 pts What is your Cash Balance as of December 31, 2024? Enter your amount as a whole number, no decimals. Flag question: Question 5 Question 5 1 pts What are your Total Assets as of December 31, 2024? Enter your amount as a whole number, no decimals. Flag question: Question 6 Question 6 1 pts What is your Bonds Payable Amount as of December 31, 2024? Enter your amount as a whole number, no decimals. Flag question: Question 7 Question 7 1 pts When referencing your Cash Flow, what is the Value Amount you Received from Customers in 2024 as of December 31, 2024? Enter your amount as a whole number, no decimals. Flag question: Question 8 Question 8 1 pts Referencing your Cash Flow, what is the Net Increase (Decrease) in Cash as of December 31, 2024? Enter your amount as a whole number, no decimals. Flag question: Question 9 Question 9 1 pts Referencing your Cash Flow, what is your December 31, 2024 year-end Cash and Equivalents amount? Enter your amount as a whole number, no decimals. Flag question: Question 10 Question 10 1 pts Referencing your Cash Flow, what is your Net Cash Provided by Operations as of December 31, 2024? Enter your amount as a whole number, no decimals.