These are the simplified financial statements for Judd Enterprises. Income statement Current Projected Sales na 1,000 Costs na 720 Profit before tax na 280 Taxes (25%) na 70 Net income na 210 Dividends na 63 Balance sheets Current Projected Current Projected Current assets 100 115 Current liabilities 70 81 Net fixed assets 900 1,080 Long-term debt 400 Common stock 300 Retained earnings 230 Refer to the Judd Enterprises financial statements. What is Judd's projected retained earnings under this plan? a. $339 b. $377 c. $396 d. $440 e. $415
These are the simplified financial statements for Judd Enterprises. Income statement Current Projected Sales na 1,000 Costs na 720 Profit before tax na 280 Taxes (25%) na 70 Net income na 210 Dividends na 63 Balance sheets Current Projected Current Projected Current assets 100 115 Current liabilities 70 81 Net fixed assets 900 1,080 Long-term debt 400 Common stock 300 Retained earnings 230 Refer to the Judd Enterprises financial statements. What is Judd's projected retained earnings under this plan? a. $339 b. $377 c. $396 d. $440 e. $415
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter2: Financial Statements And The Annual Report
Section: Chapter Questions
Problem 2.8E: Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of...
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These are the simplified financial statements for Judd Enterprises. | ||||||
Income statement | Current | Projected | ||||
Sales | na | 1,000 | ||||
Costs | na | 720 | ||||
Profit before tax | na | 280 | ||||
Taxes (25%) | na | 70 | ||||
Net income | na | 210 | ||||
Dividends | na | 63 | ||||
Balance sheets | Current | Projected | Current | Projected | ||
Current assets | 100 | 115 | Current liabilities | 70 | 81 | |
Net fixed assets | 900 | 1,080 | Long-term debt | 400 | ||
Common stock | 300 | |||||
230 |
Refer to the Judd Enterprises financial statements. What is Judd's projected retained earnings under this plan?
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