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WHITE & PINKMAN CORPORATION Historical and Projected Income Statements Historical 2015 $10,000,000 $4,000,000 $6,000,000 Sales Cost of goods Sold Gross Profit Selling & Admin.


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WHITE & PINKMAN CORPORATION Historical and Projected Income Statements Historical 2015 $10,000,000 $4,000,000 $6,000,000 Sales Cost of goods Sold Gross Profit Selling & Admin. Expenses Depreciation Expense Operating Income (EBIT) $800,000 $2,000,000 Interest Expenses Earnings Before Tax (EBT) Income Tax (40%) Net Income (NI) Common Stock Dividends paid Addition to Retained earnings Earnings per Share (1,000,000 shares) WHITE & PINKMAN CORPORATION Historical and Projected Balance Sheets $3,200,000 $1,350,000 $1,850,000 $740,000 $1,110,000 $400,000 $710,000 $1.11 Historical Dec 31, 2015 ASSETS Current Assets: Cash Marketable Securities Accounts Receivable (gross) Less: Allowance for Bad Debts Accounts Receivable (Net) Inventory $9,000,000 $8,000,000 $1,200,000 $200,000 $1,000,000 $20,000,000 $1,000,000 Prepaid Expenses Total Current Assets $39,000,000 Plant and Equipment (gross) $20,000,000 Less: Accumulated Depreciation $9,000,000 Plant and Equipment (net) $11,000,000 TOTAL ASSETS $50,000,000 LIABILITIES AND EQUITY Current Liabilities: Accounts Payable Notes Payable Accrued Expenses Total Current Liabilities $12,000,000 $5,000,000 $3,000,000 $20,000,000 L-T Debt (Bonds Payable, 5%, due 2015) $20,000,000 Total Liabilities $40,000,000 Common Stock (1,000,000 shares, $1 par) $1,000,000 Capital in Excess of Par $4,000,000 Retained Earnings Total Equity $5,000,000 $10,000,000 TOTAL LIABILITIES AND EQUITY $50,000,000 #REF! Quiz: Ch 6 HW - Answers Ch 6-10 template.xls: 202401_F Dashboard + C 202401 canvas.umw.edu/courses/1476803/quizzes/2649869/take Home Assignments Grades White & Pinkman Income Statement People Sales Files 2015 2016 10,000,000 Cost of Goods Sold 4,000,000 Syllabus Gross Profit 6,000,000 Quizzes Modules Student Evaluation of Courses Course Evaluation Report Google Drive New Analytics Purchase Course Selling and Admin Expenses 800,000 Depreciation Expense 2,000,000 EBIT 3,200,000 Interest Expense 1,350,000 Earnings Before Taxes 1,850,000 Taxes (40%) 740,000 Materials Net Income 1,110,000 Office 365 Dividends Paid 400,000 Zoom H Addition to Retained Earnings 710,000 Question 2 Type here to search 0 QPaused 5 pts S&P 500 +1.31% 6:55 PM 2/2/2024 Quiz: Ch 6 HW - Answers Ch 6-10 template.xls: 202401_F Dashboard + University of Mary Washington 202401 Home canvas.umw.edu/courses/1476803/quizzes/2649869/take White & Pinkman Balance Sheet ASSETS Assignments Cash Account Grades Securities People Dashboard Files Syllabus Courses Quizzes Calendar Modules Student Evaluation less allowance for bad debts Accounts receivable (net) Inventory Prepaid expenses Total current assets Plant and equipment (gross) 2015 2016 9,000,000 8,000,000 1,200,000 200,000 1,000,000 20,000,000 1,000,000 39,000,000 20,000,000 Inbox of Courses Course Evaluation Report less accumulated depreciation 9,000,000 History Google Drive Plant and equipment (net) 11,000,000 Help New Analytics TOTAL ASSETS 50,000,000 Purchase Course Materials Office 365 Zoom LIABILITIES AND EQUITY Accounts payable 12,000,000 Notes payable 5,000,000 Accrued expenses 3,000,000 Total current liabilities 20,000,000 Long term debt (bonds payable). 20,000,000 Total liabilities 40,000,000 Common stock 1,000,000 Capital in excess of par 4,000,000 K Retained earnings 5,000,000 Type here to search 3' 99+ S&P 500 +1.31% * 0 QPaused 6:55 PM 2/2/2024 ty con Quiz: Ch 6 HW - Answers Ch 6-10 template.xls: 202401_F Dashboard + canvas.umw.edu/courses/1476803/quizzes/2649869/take 202401 Home Assignments t Grades People rd Files Plant and equipment (gross) 20,000,000 less accumulated depreciation 9,000,000 Plant and equipment (net) 11,000,000 8 TOTAL ASSETS 50,000,000 LIABILITIES AND EQUITY Accounts payable 12,000,000 Notes payable Syllabus S Quizzes ar Modules 5,000,000 Accrued expenses 3,000,000 Student Evaluation Total current liabilities 20,000,000 of Courses Course Evaluation Report Google Drive New Analytics Purchase Course Materials Office 365 Zoom Long term debt (bonds payable). 20,000,000 Total liabilities 40,000,000 Common stock 1,000,000 Capital in excess of par 4,000,000 Retained earnings 5,000,000 Total equity. 10,000,000 TOTAL LIABILITIES AND EQUITY 50,000,000 H Type here to search 3' (99+ 0 QPaused 50F Cloudy 6:56 PM 2/2/2024

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