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The balance sheet and income statement shown below are for Pettijohn Inc. Note be rolled over Balance Sheet (Millions of $) that the firm has
The balance sheet and income statement shown below are for Pettijohn Inc. Note be rolled over Balance Sheet (Millions of $) that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable w il1 2010 Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total debt Common stock Retained earnings Total common equity Total liabilities and equity $1,554.0 9, 660.0 13,440.0 $24, 654. 17, 346.0 $42, 000.0 $7,980.0 5,880.0 4, 620.0 $18,480.0 10,920.o $29,400.0 3,360.0 9,240.0 $12,600.0 $42,000.0 Income Statement (Millions of s) Net sales Operating costs except depr'n Depreciation Earnings bef int and taxes (EBIT) 2010 $54, 978.0 $1,029.0 $2,793.0 1,050.0 $1,743.0 $610.1 $1,133.0 Less interest Earnings before taxes (EBT) Taxes Net income Other data: Shares outstanding (millions) 175.00 $509.83 Common dividends Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 6.25 358 $77.69
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