Year 0 Income Statement 320,000 Sales Costs Except Depreciation (150,000) EBITDA 170,000 (15,000) 155,000 (3,000) Depreciation EBIT Interest Expense (net) Pretax Income 152,000 Income Tax (53,200) 98,800 Net Income Balance Sheet Year 0 Assets Cash and Equivalents 25,000 Accounts Receivable 12,000 Inventories 5,000 Total Current Assets 42,000 Property, Plant and Equipment 120
Year 0 Income Statement 320,000 Sales Costs Except Depreciation (150,000) EBITDA 170,000 (15,000) 155,000 (3,000) Depreciation EBIT Interest Expense (net) Pretax Income 152,000 Income Tax (53,200) 98,800 Net Income Balance Sheet Year 0 Assets Cash and Equivalents 25,000 Accounts Receivable 12,000 Inventories 5,000 Total Current Assets 42,000 Property, Plant and Equipment 120
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2RE: Refer to RE5-1. Prepare a single-step income statement for Brandt Corporation for the current year.
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Noah’s ark video games expects sales to grow by 25% next year. Assume that it pays out 95% of its net income. Using the following statements and the percent of sales method, forecast depreciation
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