Net working capital is $900. The debt ratio is 34.06%. Complete a common sized i

Question

Net working capital is $900. The debt ratio is 34.06%.
Complete a common sized income statement, a common sized balance sheet, and a statement of cash flows for 2015. The debt ratio is 34.06%.
Complete a common sized income statement, a common sized balance sheet, and a statement of cash flows for 2015. Assets 2014 2015 Cash Accounts receivable Inventory Current Assets 00 1189 Plant&equipment Less accumulated depreciation Net plant & equipment Total assets $200 $150 450 415 550 624 2200 2628 (1,000) (1,421) 1200 1421 2400 2610 Liabilities and owners equity Accounts payable Notes payable-current (9%) Current liabilities200 Bonds $200 $151 0 138 289 600 600 Owners equity Common stock Retained earnings Total owners equity 1600 1721 Total liabilities and 2400 2610 owners equity 900 900 700 821

Explanation / Answer

Dividend calculated as follows: Net Income for FY2015- (Retained Eanings for FY2015-Retained earnings for FY2014)
=173 - (821-700)
=173 - 121
=52

2014 2015 2014 2015 Sales 1200 1460 100% 100% Cost of Goods Sold 700 860 58.33% 58.90% Gross Profit 500 600 41.67% 41.10% Selling General administrative 30 43 2.5% 2.95% Depreciation 220 207 18.33% 14.18% 250 250 20.83% 17.12% Operating Income 250 350 20.83% 23.97% Interest Expense 50 62 4.17% 4.25% Net Income Before taxes 200 288 16.67% 19.73% Taxes (40%) 80 115 6.67% 7.88% net Income 120 173 10% 11.85%

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