Question
Year 2014 Actual 2015 2016 Net sales $20,613 Growth rate in net sales 13.8% 12.0% Cost of goods sold / net sales 78.0% 82.0% Gen.,
Year | 2014 Actual | 2015 | 2016 |
Net sales | $20,613 | ||
Growth rate in net sales | 13.8% | 12.0% | |
Cost of goods sold / net sales | 78.0% | 82.0% | |
Gen., sell., and admin. expenses/net sales | 12.0% | 12.0% | |
Long-term debt | $760 | $660 | $560 |
Current portion long-term debt | $100 | $100 | $100 |
Interest rate | 10.0% | 10.0% | |
Tax rate | 45.0% | 25.0% | |
Dividend / earnings after tax | 25.0% | 30.0% | |
Current assets / net sales | 29.0% | 31.0% | |
Net fixed assets | $280 | $300 | |
Current liabilities except current portion long-term debt /net sales | 14.5% | 16.0% | |
Owners' equity | $1,730 | ||
INCOME STATEMENT | |||
Forecast | Forecast | ||
Year | 2015 | 2016 | |
Net sales | $23,458 | Q4 | |
Cost of goods sold | Q1 | 21,543 | |
Gross profit | $5,161 | $4,729 | |
Gen., sell., and admin. exp. | 2,196 | 2,585 | |
Interest expense | 76 | 66 | |
Earnings before tax | 2,889 | 2,078 | |
Tax | 1,300 | 519 | |
Earnings after tax | Q2 | $1,558 | |
Dividends paid | $397 | Q5 | |
Additions to retained earnings | $1,192 | $1,091 | |
BALANCE SHEET | |||
Current assets | $6,803 | $8,144 | |
Net fixed assets | Q3 | 300 | |
Total assets | $7,083 | $8,444 | |
Current liabilities except current portion long-term debt | $3,401 | $4,204 | |
Current portion long-term debt | 100 | 100 | |
Long-term debt | 660 | 560 | |
Owner's equity | 2,922 | 2,283 | |
Total liabilities and owners' equity | $7,083 | Q6 | |
EXTERNAL FUNDING REQUIRED | $0 | $1,298 |
*FIND Q1-Q6*
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