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Problem 2 EAGLE OUTFITTERS PROJECTED INCOME STATEMENT 2011 2012 Sales $250,000 100.0% $275,000 10.0% COGS 140,000 56.0% 148,500 54.0% Gross Margin 110,000 44.0% 126,500 Expenses
Problem 2 | |||||||||
EAGLE OUTFITTERS | |||||||||
PROJECTED INCOME STATEMENT | |||||||||
2011 | 2012 | ||||||||
Sales | $250,000 | 100.0% | $275,000 | 10.0% | |||||
COGS | 140,000 | 56.0% | 148,500 | 54.0% | |||||
Gross Margin | 110,000 | 44.0% | 126,500 | ||||||
Expenses | 52,000 | 20.8% | 57,200 | 10.0% | |||||
EBIT | 58,000 | 23.2% | 69,300 | ||||||
Interest (12%) | 9,642 | 3.9% | - | 12.0% | |||||
EBT | 48,358 | 19.3% | 69,300 | ||||||
Inc Tax (43%) | 20,794 | 8.3% | 29,799 | 43.0% | |||||
Net Income | 27,564 | 11.0% | 39,501 | ||||||
Dividends | 9,875 | 25.0% | |||||||
EAGLE OUTFITTERS | |||||||||
PROJECTED BALANCE SHEET | |||||||||
ASSETS | LIABILITIES & EQUITY | ||||||||
2011 | 2012 | 2011 | 2012 | ||||||
Cash | $20,000 | 9.0% | Accounts Payable | $60,000 | 150 | ||||
A/R | 70,000 | 76,389 | 3.6 | Debt | 110,000 | ||||
Inventory | 90,000 | 250 | |||||||
Common Stock | 40,000 | ||||||||
Fixed Assets | 150,000 | 171,875 | 1.6 | Retained Earnings | 120,000 | ||||
Total | $330,000 | Total | $330,000 | ||||||
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