Question
Use the below information to answer the following questions: *Dividends = payout ratio x net income. A. Create the Income Statements for 2007 and 2008
Use the below information to answer the following questions:
*Dividends = payout ratio x net income.
A. Create the Income Statements for 2007 and 2008 (including dividends paid and retained earnings).
B. Create the Balance Sheets for 2007 & 2008.
C. Create the statement of Cash Flows for 2008.
D. What is the CFFA for 2008?
| Use the below information to answer the following questions: 2007 | 2008 | ||
| Sales | $2870 | $3080 | |
| Depreciation | 413 | 413 | |
| Cost of goods sold | 987 | 1121 | |
| Other Expenses | 238 | 196 | |
| Interest | 192 | 221 | |
| Cash | 1505 | 1539 | |
| Accounts Receivables | 1992 | 2244 | |
| Short-term Notes Payable | 291 | 273 | |
| Long-term debt | 5040 | 5880 | |
| Net fixed assets | 12,621 | 12,922 | |
| Accounts Payable | 1581 | 1533 | |
| Tax rate | 34% | 34% | |
| Inventory | 3542 | 3640 | |
| *Payout ratio | 52% | 52% | |
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