Question 5 Time Run Attempt dus 4 Minutes 1 pts The Lumber M 2015 Income Statement Net sales Cost of goods sold Depreciation EBIT Interest Tacable income Taxes Net income Dividends $608,400 427,800 79.100 $101.500 17.600 $ 83,900 28,500 $ 55,400 $12,000 The Lumber Balance Sheets as of December 31, 2014 and 2015 Cash Accounts receivable Inventory 2015 2014 $ 33,600 $ 33,900 54,200 53,300 96,700 85,800 2015 2014 $ 49,700$ 69,200 20,000 25,000 166,000 175,000 Accounts payable Notes payable Long-term debt Common stock and paid in surplus ($1 par value) Retained earnings Total liabilities & owners' equity Net fixed assets 4074100 409.700 150,000 216 900 150,000 173,500 Total assets $591 600 $682 700 $591.600 9562,700 Assume that all costs, assets, and accounts payable change spontaneously with sales (while notes payable is not directly tied to sales). For simplicity's sake assume interest expense also changes Question 5 Time Run Attempt dus 4 Minutes 1 pts The Lumber M 2015 Income Statement Net sales Cost of goods sold Depreciation EBIT Interest Tacable income Taxes Net income Dividends $608,400 427,800 79.100 $101.500 17.600 $ 83,900 28,500 $ 55,400 $12,000 The Lumber Balance Sheets as of December 31, 2014 and 2015 Cash Accounts receivable Inventory 2015 2014 $ 33,600 $ 33,900 54,200 53,300 96,700 85,800 2015 2014 $ 49,700$ 69,200 20,000 25,000 166,000 175,000 Accounts payable Notes payable Long-term debt Common stock and paid in surplus ($1 par value) Retained earnings Total liabilities & owners' equity Net fixed assets 4074100 409.700 150,000 216 900 150,000 173,500 Total assets $591 600 $682 700 $591.600 9562,700 Assume that all costs, assets, and accounts payable change spontaneously with sales (while notes payable is not directly tied to sales). For simplicity's sake assume interest expense also changes