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Home / Questions / ezto.mheducation comhmtpx HEIR JORDAN CORPORATION Income Statement Sales $47900 Costs 33...

ezto.mheducation comhmtpx HEIR JORDAN CORPORATION Income Statement Sales $47900 Costs 33900 Taxable income $14000 Taxes 35% 4900 Net income 9100 Dividends 2 300 Addition to retained earnings

ezto.mheducation.com/hm.tpx HEIR JORDAN CORPORATION Income Statement Sales $47,900 Costs 33,900 Taxable income $14,000 Taxes (35%) 4,900 Net income 9,100 Dividends 2,300 Addition to retained earnings 6,800 The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Liabilities and owners' Equity Assets Current assets Current liabilities 2,200 Accounts payable 4,000 Accounts receivable 5,000 Notes payable 5,100 Inventory 8,000 Total 9,100 Total 15,200 Long-term debt 22,000 Owners' equity Fixed assets s 36,600 Retained earnings Net plant and equipment Common stock and paid-in surplus 18,000 2,700 Total 20,700 Total assets 51,800 Total liabilities and owners' equity s 51,800 Prepare a pro forma balance sheet, assuming a 10 percent increase in sales, no new external equity financing, and a payout ratio. (Do not round intermediate calculations and rou answers to 2 decimal places, e. 32.16. HEIR JORDAN CORPORATION

 

Apr 08 2020 View more View Less

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