Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You are given the following financial information about your company: Income Statement Sales Year 0 $15,000,000.00 Year 1 (1) Year 1 (2nd) Operating Costs
You are given the following financial information about your company: Income Statement Sales Year 0 $15,000,000.00 Year 1 (1) Year 1 (2nd) Operating Costs -$10,200,000.00 Depreciation -$1,000,000.00 EBIT $3,800,000.00 Interest EBT Taxes (40%) Net Income -$280,000.00 $3,520,000.00 -$1,408,000.00 $2,112,000.00 Dividends Paid Out $633,600.00 Assets Year 0 Year 1 (19) Year 1 (2) Cash Accounts Receivable Inventories $1,500,000.00 $4,500,000.00 $6,000,000.00 Current Assets $12,000,000.00 Gross Plant & Equipment $10,000,000.00 Less: Depreciation -$4,000,000.00 Net Plant & Equipment $6,000,000.00 Total Assets $18,000,000.00 Liabilities & Equity Year 0 Year 1 (1) Year 1 (2) $3,750,000.00 Accounts Payable Notes Payable Accruals Current Liabilities $1,500,000.00 $1,500,000.00 $6 750 000.00
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started