please calculate interest expense

A3 Facts and Assumptions B C D E 1 Chapter 3 Problem 7 2 Calculate interest expense 2015 2016 2014 $ 20,613 3 Facts and Assumptions 4 Year 5 Net sales 6 Growth rate in sales 7 Cost of goods soldet sales 8 Gen., sell, and admin. expenseset sales 9 Long-term debt 10 Current portion long-term debt 11 Interest rate 12 Tax rate 13 Dividend/earnings after tax 14 Current assetset sales 15 Net fixed assets 16 Current liabilitieset sales 17 Owners' equity S $ 760 $ 100 $ 25% 86% 12% 660 $ 100 $ 10% 45% 50% 29% 280 $ 14.5% 30% 86% 11% 560 100 10% 45% 50% 29% 270 14.4% $ $ 1,730 18 INCOME STATEMENT Forecast 2015 19 Year 2014 2016 Paste A Merge & Center Clipboard Font Alignment A3 Facts and Assumptions E LL 18 INCOME STATEMENT 2014 2016 19 Year 20 Net sales 21 Cost of good sold 22 Gross profit 23 Gen., sell, and admin. exp. 24 Interest expense 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings Forecast 2015 $25,766 22,159 3,607 3,092 231 285 128 156 78 78 BO BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity 37 Total liabilities and shareholders' equity $ 7,472 280 7.752 3,736 660 1,808 6,204 Anment Facts and Assumptions 285 128 Earnings before tax Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings TO 78 5 7472 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity 37 Total liabilities and shareholders'equity 38 39 EXTERNAL FUNDING REQUIRED 40 7.752 3.736 660 1308 6204 $ 1,548 42 B D E LL G C 285 128 A 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings 156 78 78 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity 37 Total liabilities and shareholders' equity 38 39 EXTERNAL FUNDING REQUIRED $ 7,47 280 7,752 3,736 660 1,808 6,204 $ 1,548 40 41 42 43 44 AC B D TI 2015 2014 $ 20,613 2016 2 Calculate interest expense 3 Facts and Assumptions 4 Year 5 Net sales 6 Growth rate in sales 7 Cost of goods soldet sales 8 Gen., sell, and admin. expenseset sales 9 Long-term debt 10 Current portion long-term debt 11 Interest rate 12 Tax rate 13 Dividend/earnings after tax 14 Current assetset sales 15 Net fixed assets 16 Current liabilitieset sales 17 Owners' equity $ $ 760 $ 100 $ 25% 86% 12% 660 S 100 $ 10% 45% 50% 29% 280 $ 14.5% 30% 86% 11% 560 100 10% 45% 50% 29% 270 14.4% $ $ 1.730 18 INCOME STATEMENT 2014 2016 19 Year 20 Net sales 21 Cost of good sold Forecast 2015 525.766 22.159 E F 17 Owners' equity $ 1,730 18 INCOME STATEMENT 2014 2016 19 Year 20 Net sales 21 Cost of good sold 22 Gross profit 23 Gen., selland admin. exp. 24 Interest expense 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings Forecast 2015 $ 25,766 22,159 3,607 3,092 231 285 128 156 78 78 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity $ 7.472 280 7.752 3.736 660 1.808 17 Owners'equity $ 1,730 18 INCOME STATEMENT 2014 2016 19 Year 20 Net sales 21 Cost of good sold 22 Gross profit 23 Gen., sell, and admin. exp. 24 Interest expense 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings Forecast 2015 $25,766 22,159 3,607 3,092 231 285 128 156 78 78 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt $ 7,472 280 7.752 3,736 660 1,808 36 Equity Insert Formulas Data Page Layout Review File Home View Help X E Arial " v 10 2 Wrap Text Ge Paste AA- EE + Merge & Center $ Clipboard Font Alignment A3 Facts and Assumptions B E 3,607 3,092 231 285 128 156 78 78 22 Gross profit 23 Gen., sell, and admin. exp. 24 Interest expense 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity 37 Total liabilities and shareholders' equity 38 39 EXTERNAL FUNDING REQUIRED 40 $ 7,472 280 7,752 3,736 660 1,808 6,204 $ 1,548 42 11 lo Paste BIU 23 Wrap Text a. A Clipboard Merge & Center 5 Font Alignment A3 Facts and Assumptions B E 22 Gross profit 23 Gen., sell, and admin. exp. 24 Interest expense 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings 3,607 3,092 231 285 128 156 78 78 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity 37 Total liabilities and shareholders' equity 38 39 EXTERNAL FUNDING REQUIRED 40 $ 7,472 280 7.752 3.736 660 1 808 6 204 $ 1,548 41 42 A3 Facts and Assumptions B C D E 1 Chapter 3 Problem 7 2 Calculate interest expense 2015 2016 2014 $ 20,613 3 Facts and Assumptions 4 Year 5 Net sales 6 Growth rate in sales 7 Cost of goods soldet sales 8 Gen., sell, and admin. expenseset sales 9 Long-term debt 10 Current portion long-term debt 11 Interest rate 12 Tax rate 13 Dividend/earnings after tax 14 Current assetset sales 15 Net fixed assets 16 Current liabilitieset sales 17 Owners' equity S $ 760 $ 100 $ 25% 86% 12% 660 $ 100 $ 10% 45% 50% 29% 280 $ 14.5% 30% 86% 11% 560 100 10% 45% 50% 29% 270 14.4% $ $ 1,730 18 INCOME STATEMENT Forecast 2015 19 Year 2014 2016 Paste A Merge & Center Clipboard Font Alignment A3 Facts and Assumptions E LL 18 INCOME STATEMENT 2014 2016 19 Year 20 Net sales 21 Cost of good sold 22 Gross profit 23 Gen., sell, and admin. exp. 24 Interest expense 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings Forecast 2015 $25,766 22,159 3,607 3,092 231 285 128 156 78 78 BO BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity 37 Total liabilities and shareholders' equity $ 7,472 280 7.752 3,736 660 1,808 6,204 Anment Facts and Assumptions 285 128 Earnings before tax Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings TO 78 5 7472 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity 37 Total liabilities and shareholders'equity 38 39 EXTERNAL FUNDING REQUIRED 40 7.752 3.736 660 1308 6204 $ 1,548 42 B D E LL G C 285 128 A 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings 156 78 78 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity 37 Total liabilities and shareholders' equity 38 39 EXTERNAL FUNDING REQUIRED $ 7,47 280 7,752 3,736 660 1,808 6,204 $ 1,548 40 41 42 43 44 AC B D TI 2015 2014 $ 20,613 2016 2 Calculate interest expense 3 Facts and Assumptions 4 Year 5 Net sales 6 Growth rate in sales 7 Cost of goods soldet sales 8 Gen., sell, and admin. expenseset sales 9 Long-term debt 10 Current portion long-term debt 11 Interest rate 12 Tax rate 13 Dividend/earnings after tax 14 Current assetset sales 15 Net fixed assets 16 Current liabilitieset sales 17 Owners' equity $ $ 760 $ 100 $ 25% 86% 12% 660 S 100 $ 10% 45% 50% 29% 280 $ 14.5% 30% 86% 11% 560 100 10% 45% 50% 29% 270 14.4% $ $ 1.730 18 INCOME STATEMENT 2014 2016 19 Year 20 Net sales 21 Cost of good sold Forecast 2015 525.766 22.159 E F 17 Owners' equity $ 1,730 18 INCOME STATEMENT 2014 2016 19 Year 20 Net sales 21 Cost of good sold 22 Gross profit 23 Gen., selland admin. exp. 24 Interest expense 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings Forecast 2015 $ 25,766 22,159 3,607 3,092 231 285 128 156 78 78 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity $ 7.472 280 7.752 3.736 660 1.808 17 Owners'equity $ 1,730 18 INCOME STATEMENT 2014 2016 19 Year 20 Net sales 21 Cost of good sold 22 Gross profit 23 Gen., sell, and admin. exp. 24 Interest expense 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings Forecast 2015 $25,766 22,159 3,607 3,092 231 285 128 156 78 78 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt $ 7,472 280 7.752 3,736 660 1,808 36 Equity Insert Formulas Data Page Layout Review File Home View Help X E Arial " v 10 2 Wrap Text Ge Paste AA- EE + Merge & Center $ Clipboard Font Alignment A3 Facts and Assumptions B E 3,607 3,092 231 285 128 156 78 78 22 Gross profit 23 Gen., sell, and admin. exp. 24 Interest expense 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity 37 Total liabilities and shareholders' equity 38 39 EXTERNAL FUNDING REQUIRED 40 $ 7,472 280 7,752 3,736 660 1,808 6,204 $ 1,548 42 11 lo Paste BIU 23 Wrap Text a. A Clipboard Merge & Center 5 Font Alignment A3 Facts and Assumptions B E 22 Gross profit 23 Gen., sell, and admin. exp. 24 Interest expense 25 Earnings before tax 26 Tax 27 Earnings after tax 28 Dividends paid 29 Additions to retained earnings 3,607 3,092 231 285 128 156 78 78 30 BALANCE SHEET 31 Current assets 32 Net fixed assets 33 Total assets 34 Current liabilities 35 Long-term debt 36 Equity 37 Total liabilities and shareholders' equity 38 39 EXTERNAL FUNDING REQUIRED 40 $ 7,472 280 7.752 3.736 660 1 808 6 204 $ 1,548 41 42