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  
        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
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