{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

HOMEWORK 2 - ENG 111 Fall 2011 HOMEWORK 2 1 The Income...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ENG 111, Fall 2011 October 10, 2011 HOMEWORK 2 1. The Income Statement and Balance Sheet forOrangeyaglad Inc. for 2009 are given below: Orangeyaglad INC. 2009 Income Statement Sales $ 929,000 Costs 723,000 Other expenses 19,000 EBIT $ 187,00 Interest 14,000 Taxable income $ 173,000 Taxes 60,550 Net income $ 112,450 Dividends $33,735 Add. to Ret. Earnings $78,715 Orangeyaglad INC. 2009 Balance Sheet Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 25,300 Accounts payable $ 68,000 Accounts receivable 40,700 Notes payable 17,000 Inventory 86,900 Total $ 85,000 Total $ 152,900 Long-term debt 158,000 Fixed assets Net plant and Owners’ equity equipment $ 413,000 Common stock and paid-in surplus $ 140,000 Retained earnings 182,900 Total $ 322,900 Total liabilities and owners’ Total assets $ 565,900 equity $ 565,900
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
a) Sales for 2010 are projected to grow by 20%. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

HOMEWORK 2 - ENG 111 Fall 2011 HOMEWORK 2 1 The Income...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon bookmark
Ask a homework question - tutors are online