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PLEASE HELP I am student in Alabama And I really need help Income Statement, Random Company 2016 2017 Sales Growth Rate is stated in problem
PLEASE HELP
I am student in Alabama And I really need help
Income Statement, Random Company 2016 2017 Sales Growth Rate is stated in problem COGS are same ratio to Sales in 2017 as they were in 2016 65 Net Sales $ 1,509.00 Cost of Goods Sold $ 750.00 Deprecia tion $ 65.00 Operatin g Profit $ 694.00 Interest Expense $ 70.00 Taxable Income $ 624.00 Taxes $ 212.00 Net Income $ 412.00 Dividend s, Payout ratio .25$ 70 Taxable income is taxed at 21% 103.00 2015 2015 2016 2017 Balance Sheet, Random Company 2016 2017 Liabilitie s and Equity Accounts 160.00 PLUG Payable $ Assets $ 104.00 $ $ 232.00 $ 266.00 Acct Payb grows by Sales growth rate Cash Accounts Receivab lle 123 Inventor y Total Current Assets Notes $ 455.00 $ 688.00 $ 688 Payable $ 196.00 $ 123.00 $ grows by Total Sales Current growth Liabilitie $ 553.00 $ 555.00 rate S $ 428.00 $ 389.00 Long term $ 1,112.00 $ 1,403.00 debt $ 408.00 $ 454.00 LTD grows by Sales growth rate Net Property Plant and Equipme nt Total Assets $ 1,644.00 $ 1,709.00 $ 1,709 S $ 2,756.00 $3,112.00 Total Liabilitie $ 836.00 $ 843.00 Paid In Capital $ 600.00 $ 640.00 $ 640 Retained Earnings $ 1,320.00 $ 1,629.00 Use formula you have learned Total Equity $ 1,920.00 $ 2,269.00 Total Liabilitie s and Equity $ 2.756.00 $3,112.00 Prepare the forecast financial statements for Random Company for 2017, using a 4% growth rate in Sales. Net Sales: $1,600 Net Income: $529 Retained Earnings: $588 Plug to Cash: $567 A. Net Sales: $1,569 Net Income: $517 Retained Earnings: $2,146 Plug to Cash: $425 B. Net Sales: $1,569 Net Income: $472 Retained Earnings: $1,938 Plug to Cash: $110 C. Net Sales: $1,569 Net Income: $517 Retained Earnings: $2,107 Plug to Cash: $554 DStep by Step Solution
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