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Please assist with the following and show workings ( especially for equity ) The Oriole, Inc., financial statements for the fiscal year ended June 30,
Please assist with the following and show workings especially for equity
The Oriole, Inc., financial statements for the fiscal year ended June 30, 2021, are presented below. The firm's sales are projected to grow at a rate of 20 Dercent next vear. and all financial statement accounts will varv directlv with sales. Oriole, Inc. Balance Sheet as Of June 30, 2022 Liabilities and Stockholders' Equity: Oriole, Inc., Incorne Staternent for the Fiscal Year Ended, June 30, 2021 Assets: Cash Accounts receivable Inventories Total current assets Net fixed assets Other assets Total assets $27,500 47,900 182,800 $258,200 356,000 14,400 $628,600 Accounts payable Notes payable Total current liabilities Long-term debt Common stock Retained earnings Net sales $74,200 Costs 39,900 EBITDA Depreciation $114,100 EBIT 244,100 I nterest 164,100 EBT 106,300 Taxes (35%) Total liabilities and equity $628,600 Net income 874,500 $715,500 191,500 $524,000 98 $426,000 149,100 $276,900 Assume that equity accounts do not vary directly with sales but change when retained earnings change or new equity is issued. The company pays 45 percent of its income as dividends every year. In addition, the company plans to expand production capacity by building a new facility that will cost $246,000. The firm has no plans to issue new equity this year and any funds that need to be raised will be raised through the sale of long-term debt. prepare a pro forma balance sheet using this information. (Round anwrs to O decimal places, e.g. 5,275.) oriole, Inc., Balance Sheet as of June 30, 2021 Assets: Cash Accounts receivable Inventories Total current assets Net fixed assets Addition to fixed assets Other assets Total assets Liabilities and Stockholders' Equity: Accounts payable Notes payable Total current liabilities Long-term debt Cornmon stock Retained earnings Total liabilities and equity
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