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would like help in solving this case, thank you! Your task is to analyze Puyol Corps reorganization plan Puyol Coro, has reported losses for the

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would like help in solving this case, thank you!
Your task is to analyze Puyol Corps reorganization plan Puyol Coro, has reported losses for the past three years and has finally decided to file for bankruptcy. You know that the company has preferred stock A that has a par value of $119.00, pays a dividend of $8 per share, and that there are 1,200,000 shares of this class outstanding. Preferred stock is calable at siss, has 60,000 shares outstanding, and pays a dividend of $12.00 per share. The company's common stock has a per value of $1.50 and has 6,000,000 shares outstanding. You have also collected the following data from the company's financial statements: Current assets Net fixed assets Goodwill 4.50 Puyol Corp. Data from Financial Statements (Millions of dollars) Balance Sheet Income Statement $252.00 Current abilities $63.00 Net sales $810.00 229.50 Advance payments 117.00 Operating expense 774.00 22.50 Reserves 9.00 Net operating income $35.00 Class A Preferred stock 142.80 Other Income Class B Preferred stock 9,30 EBT $40.50 Common stock 9.00 Toxes (50%) 20.25 Retained earnings 153.90 Net Income $20.25 Dividends on Class A Preferred stock 10.80 Dividends on Class B Preferred stock 0.90 5504.00 Total claims $504.00 Income available to common stockholders $8.55 Total assets Puyol's creditors have agreed to a voluntary reorganization plan with the following settlements: Each share of preferred stock A will be exchanged for one share of preferred stock C with a par value of $39.67 that pays a dividend of $3.20 per share, plus one 11% subordinated income debenture that carries a par value of $79.33. Preferred stock B that pays a dividend of $12.00 per share will be settled with cash at a call price of $155. 274.00 Based on the information you have, calculate and for in the values in the pro-forma financial statements of Puyol Corp. for the recrganization plan (Note: Round your answers to two decimal places.) Puyol Corp. Pro-Forma Financial Statements Based on Reorganization Plan (Millions of dollars) Balance Income Statement Sheet Current assets Current liabilities $63.00 Net sales 5810.00 Net fixed 229.50 Advance payments 117.00 Operating expense assets Goodwill 22.50 Reserves 9.00 Net operating income $36.00 Subordinated debenture Other income 4.50 $3.20 preferred stock C EBIT $40.50 claims Common stock Interest expense Retained earnings 153.90 EBT Taxes (50%) Net Income Dividends on $3.20 preferred Total assets Total claims Income available to common stockholders 9.00 Thus, income available for common stockholders will after the reorganization takes place

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