Consider the following statement of comprehensive Income for the Dartmoor Corporation: DARTMOOR CORPORATION Statement of Comprehensive Income Sales Costs Taxable income Taxes (34%) Net income Dividends Addition to retained earnings $2,500 7,862 $47,000 31,300 $15,700 5,338 $10,362 The statement of financial position for the Dartmoor Corporation follows.
Consider the following statement of comprehensive Income for the Dartmoor Corporation: DARTMOOR CORPORATION Statement of Comprehensive Income Sales Costs Taxable income Taxes (34%) Net income Dividends Addition to retained earnings $2,500 7,862 $47,000 31,300 $15,700 5,338 $10,362 The statement of financial position for the Dartmoor Corporation follows.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter17: Financial Statement Analysis
Section17.4: Analyzing Financial Statements Using Financial Ratios
Problem 1OYO
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![Consider the following statement of comprehensive Income for the Dartmoor Corporation:
DARTMOOR CORPORATION
Statement of Comprehensive Income
Taxable income
Taxes (34%)
Net income
Dividends
Addition to retained earnings
Current assets
Cash
The statement of financial position for the Dartmoor Corporation follows.
Accounts receivable
Inventory
Total
Fixed assets
Net plant and equipment
Total assets
Current assets
Cash
Accounts receivable
Inventory
Total
Fixed assets
Net plant and equipment
Total assets
$2,500
7,862
EFN
Assets
DARTMOOR CORPORATION
Statement of Financial Position
$ 2,950
4,100
6,400
$13,458
$41,300
$54,750
31,300
$15,700
5,338
$10,362
Prepare a pro forma statement of financial position, assuming a 15% Increase in sales, no new external debt or equity financing, and a
constant payout ratio. (Do not round Intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign In your
response.)
Current liabilities
Accounts payable
Notes payable
Total
Long-term debt
Owners' equity
Common stock and paid-in surplus
Retained earnings
Total
Liabilities and Owners' Equity
Total liabilities and owners' equity
$
DARTMOOR CORPORATION
Pro Forma Statement of Financial Position
M
Current liabilities
Accounts payable
Notes payable
Total
$ 2,408
5,400
Long-term debt
Owners' equity
Common stock and paid-in surplus
Retained earnings
Total
$28,000
Total liabilities and owners' equity
$15,000
3,958
$18,950
$54,750
Liabilities and Owners' Equity
54
TA
14
14
1A
Calculate the EFN. (Do not round Intermediate calculations. Negative answer should be Indicated by a minus sign. Round the final
answer to 2 decimal places. Omit $ sign in your response.)
$1](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4b8470e2-3b55-467a-9059-529a9ba1b211%2Fdd70d370-b5e1-477a-85fb-bdc5fdbdee37%2Favrjuuc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Consider the following statement of comprehensive Income for the Dartmoor Corporation:
DARTMOOR CORPORATION
Statement of Comprehensive Income
Taxable income
Taxes (34%)
Net income
Dividends
Addition to retained earnings
Current assets
Cash
The statement of financial position for the Dartmoor Corporation follows.
Accounts receivable
Inventory
Total
Fixed assets
Net plant and equipment
Total assets
Current assets
Cash
Accounts receivable
Inventory
Total
Fixed assets
Net plant and equipment
Total assets
$2,500
7,862
EFN
Assets
DARTMOOR CORPORATION
Statement of Financial Position
$ 2,950
4,100
6,400
$13,458
$41,300
$54,750
31,300
$15,700
5,338
$10,362
Prepare a pro forma statement of financial position, assuming a 15% Increase in sales, no new external debt or equity financing, and a
constant payout ratio. (Do not round Intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign In your
response.)
Current liabilities
Accounts payable
Notes payable
Total
Long-term debt
Owners' equity
Common stock and paid-in surplus
Retained earnings
Total
Liabilities and Owners' Equity
Total liabilities and owners' equity
$
DARTMOOR CORPORATION
Pro Forma Statement of Financial Position
M
Current liabilities
Accounts payable
Notes payable
Total
$ 2,408
5,400
Long-term debt
Owners' equity
Common stock and paid-in surplus
Retained earnings
Total
$28,000
Total liabilities and owners' equity
$15,000
3,958
$18,950
$54,750
Liabilities and Owners' Equity
54
TA
14
14
1A
Calculate the EFN. (Do not round Intermediate calculations. Negative answer should be Indicated by a minus sign. Round the final
answer to 2 decimal places. Omit $ sign in your response.)
$1
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