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Please help and show work Problem 4-3 Lap Dogs Inc. is planning for next year and has the summarized results given below. The firm pays
Please help and show work
Problem 4-3 Lap Dogs Inc. is planning for next year and has the summarized results given below. The firm pays interest of 11% on all borrowing and is subject to an overall tax rate of 37%. It paid interest of $15,000 this year and plans a $85,000 dividend next year. Complete Lap Dog's forecast of next year's financial statements. Enter your answers in thousands. For example, an answer of $12 thousands should be entered as 12, not 12,000. Enter all amounts as a positive numbers. Income Statement (S000). EBIT $256 Interest 15 x EBT 241 x Income Tax 91.58 x Net Income 149.42 x Assets Balance Sheet ($000). This Year Next Year $579 $778 69 290 403.58 x 220 284.42 Current Liabilities 90 Debt Equity Total Liab & Equity $579 $778Step by Step Solution
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