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Please help!! Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes) Income Statement Sales Costs Balance Sheet $26,500 Debt $
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Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes) Income Statement Sales Costs Balance Sheet $26,500 Debt $ 7,000 19,500 $34,000 Assets 27,330 Equity Net income 6,670 Total $26,500 Total $26,500 The company has predicted a sales increase of 15 percent. Assume Yoo pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) Pro forma income statement Pro forma balance sheet Sales Costs 39100 31395 Assets 30475 Debt 8050 Equity 21450 Net income 7705 Total 30475 Total 29500 What is the external financing needed? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.) External financing neededStep by Step Solution
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