HOMEWORK 2 - ENG 111, Fall 2011 October 10, 2011 HOMEWORK 2...

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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
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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
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This note was uploaded on 12/05/2011 for the course ENGINEERIN 111 taught by Professor Melihabulu-taciroglu during the Fall '11 term at UCLA.

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HOMEWORK 2 - ENG 111, Fall 2011 October 10, 2011 HOMEWORK 2...

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