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Please provide work so I can see how it was done. Thank you! Major Manuscripts, Inc. 2012 Income Statement Net sales $17,100 11,200 1.650 4,250
Please provide work so I can see how it was done. Thank you!
Major Manuscripts, Inc. 2012 Income Statement Net sales $17,100 11,200 1.650 4,250 350 Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Dividends $950 $3,900 1.300 $2.600 2012 Cash $3.350 2,780 Major Manuscripts, Inc. 2012 Balance Sheet 2012 $1.040 Accounts payable 700 Long-term debt 7.500 Common stock 9.240 Retained earnings 11.400 $20.640 Total liabilities & equity Accounts rec. Inventory Total Net fixed assets Total assets 10,000 4,510 $20,640 Assume that Major Manuscripts, Inc. is currently operating at 97 percent of capacity and that sales are projected to increase to $20,000. What is the projected addition to fixed assets? A. $0 B. $1,533 C. $1,629 D. $1,646 E. $1,688Step by Step Solution
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