Question
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Use the following information to answer the questions No.
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
Use the following information to answer the questions No. 10 to 14 below.
Income Statement Balance Sheet
for the year ending December 31, 20XX
December 31, 20XX
(in thousands) (in thousands)
Sales $30,000 Assets:
COGS 13,650 Total Current Assets $ 75,000
16,350 Net Plant & Equipment 52,500
Total Assets $127,500
Selling Expenses 3,000
Depreciation 2,250 Liabilities & Equity:
Fixed Expenses 3,000 Accounts Payable $ 30,000
Notes Payable 7,500
EBIT 8,100 Accrued Expenses 7,500
Taxes (40%) 3,240
Bonds Payable 30,000
Net Income 4,860 Common Stock 30,000
Capital in Excess of Par 15,000
Common Stock Div. 900 Retained Earnings 7,500
Retained Earnings $ 3,960
Total Liabilities & Equity $127,500
Next Year's Forecasted Sales are = $37,500
Assuming that cost of goods sold remain a constant percentage of sales, what is its forecast for next year? Maintaining current dividend policy, what are expected dividends forecast to be next year?
If selling expenses remain a constant percentage of sales, what is their forecast for next year?
What are retained earnings expected to be next year
What are expected taxes for next year?
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