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Year 2014 Actual 2015 First Pass 2015 Final Pass Net sales $20,613 Growth rate in net sales 25.0% Cost of goods sold / net sales

Year

2014 Actual

2015 First Pass

2015 Final Pass

Net sales

$20,613

Growth rate in net sales

25.0%

Cost of goods sold / net sales

82.0%

Gen., sell., and admin. expenses/net sales

12.0%

Long-term debt

$2,760

$2,460

Current portion long-term debt

$300

$300

Interest rate

10.0%

Tax rate

25.0%

Dividend / earnings after tax

60.0%

Current assets / net sales

38.0%

Net fixed assets

$1,420

Current liabilities except current portion long-term debt /net sales

14.0%

Owners' equity

$2,730

INCOME STATEMENT

Year

2015 First Pass

2015 Final Pass

Net sales

$25,766

Cost of goods sold

21,128

Gross profit

$4,638

Gen., sell., and admin. exp.

2,535

Interest expense

Q1

Q3

Earnings before tax

1,827

Tax

457

Earnings after tax

$1,370

Dividends paid

$822

Additions to retained earnings

$548

BALANCE SHEET

Current assets

$9,791

Net fixed assets

1,420

Total assets

$11,211

Current liabilities except current portion long-term debt & external financing

$3,607

External Financing

0

Q4

Current portion long-term debt

300

Long-term debt

2,460

Owner's equity

3,278

Total liabilities and owners' equity

$9,645

EXTERNAL FUNDING REQUIRED

Q2

1.The number for Q1 is___

2.The number for Q2 is___

3.The number for Q3 is____

4.The number for Q4 is____

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