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Problem z Complete the projected Balance Sheet and Income Statement for Metza Metza, Inc. at December 31, 2021. given the following information: (you must show
Problem z Complete the projected Balance Sheet and Income Statement for Metza Metza, Inc. at December 31, 2021. given the following information: (you must show step by step calculations ). Also prepare a Common-size analysis of the Balance Sheet and Income Statement. What was their beginning Retained Earings (actual) account balance at January 1, 2021 given a planned 40% Dividend Payout on December 31, 2021? You may assume a 360 day year and 30 day months. Equity Multiplier 2.0x Current Ratio 2.5.1 Cash 5.0% of Sales Quick Asset Ratio 1.3:1 Times Interest Eamed 4.0x Gross Profit Rate 40.0% of Sales Marginal Tax Rate 50.0% Operating Expenses S140,000 + 10.0% of Sales Accounts Receivable Turnover 6.0x Accounts Payable $60,000.00 Return on Assets 3.75% Common Stock $100,000.00 Days Accounts Payable Outstanding 60 days Note: Operating expenses is comprised of both a fixed expense and a variable expense (referred to as a semi-variable expense). Also, all turnover ratios are based upon ending balances of the respective balance sheet accounts
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