Cattail Corporations financial statements for the fiscal year just ended are shown below: Cattail management expects sales
Question:
Cattail management expects sales to increase by 14 percent next year. Assume that the financial statement accounts vary directly with changes in sales and that management has no financing plan at this time. Given this information, develop a pro forma income statement for Cattail for the next fiscalyear.
Transcribed Image Text:
Cattail Corporation Financial Statements for Fiscal Year Just Ended (S thousands) Balance Sheet $700 Income Statement Net sales Costs Net income $1,500 350 $1,150 Debt Equity Total Assets $600 $100 $700 Total $700
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
Projected sales 1500000 114 171000...View the full answer
Answered By
Sheikh Muhammad Ibrahim
During the course of my study, I have worked as a private tutor. I have taught Maths and Physics to O'Level and A'Level students, as well as I have also taught basic engineering courses to my juniors in the university. Engineering intrigues me alot because it a world full of ideas. I have passionately taught students and this made me learn alot. Teaching algebra and basic calculus, from the very basics of it made me very patient. Therefore, I know many tricks to make your work easier for you. I believe that every student has a potential to work himself. I am just here to polish your skills. I am a bright student in my university. My juniors are always happy from me because I help in their assignments and they are never late.
4.90+
14+ Reviews
24+ Question Solved
Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
Question Posted:
Students also viewed these Corporate Finance questions
-
The Starlight, Inc. financial statements for the fiscal year ended June 30, 2013, are presented below. The firm's sales are projected to grow at a rate of 20 percent next year, and all financial...
-
Develop a pro forma income statement, using the following assumptions at a minimum: Sales/revenues will decrease by 10% due to the impact of new tariffs on imports to other countries (for...
-
The financial statement for urban outfitters for the fiscal year ending Jan 2012 can be found on google. Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this...
-
1. The following are selected accounts taken from the adjusted trial balances of the Purell Merchandise company on December 31, 2021: Inventory, January 1, 2021 Selling expenses Loss on sale of...
-
Lisa sells business property with an adjusted basis of $130,000 to her son, Alfred, for its fair market value of $100,000. a. What is Lisa's realized and recognized gain or loss? b. What is Alfred's...
-
This problem utilizes the process model in Problem 10.1 and the EEIO model in Problem 10.8. Develop a hybrid model to determine the life cycle SO 2 emission for producing 1000 kWh of electricity....
-
Many models of a composite's effective thermal conductivity are available in the literature (Wang and Pan, 2008). Even if a model cannot accurately predict the DAA product performance, physical...
-
In 2014, Michael has net short-term capital losses of $2,000, a net long-term capital loss of $45,000, and other ordinary taxable income of $45,000. a. Calculate the amount of Michaels deduction for...
-
INFORMATION As a management accountant, you have recently been recruited to be part of the strategic management accounting team of GHK Accountants. GHK Accountants has been contracted to help...
-
The accounts of Pyle Company and its subsidiary, Stern Company, are summarized below as of December 31, 2011: Pyle Company made the following open-market purchase and sale of Stern Company common...
-
Goodwin Corp. has revenues of $12,112,659, costs of $9,080,545, interest payments of $412,375, and a tax rate of 34 percent. It paid dividends of $1,025,000 to its stockholders. Find the firms...
-
Given the data for Cattail Corporation in Problem 19.9, if you assume that all balance sheet items also vary with the change in sales, develop a pro forma balance sheet for Cattail for the next...
-
Compute the equivalent units of production for materials for the month. Information about production in the fabricating department of the Char & Son Company for March 2019 follows: Beginning...
-
How do your structures of knowing serve you?
-
Neutron transport in matter The equation for neutron transport in matter has the form called the telegraph equation (see, for instance, Appendix D of [16]) which shows a propagation term of the...
-
What internal factors shape our culture when it comes to leadership effectiveness?
-
Consider a one dimensional harmonic oscillator of Hamiltonian where x and p are Lagrange conjugate variables. 1.We set x = X/ m and p = P m. Write the expression of the Hamiltonian in terms of X and...
-
What actions do you see from leaders that indicate they identify with their role?
-
(a) A motor car with a retail price of 21,000 is leased for four years at a cost of 300 per month. The car is used only for trade purposes and has an emission rating of 112g/km. How much of the...
-
Suppose you need to answer any four of seven essay questions on a history test and you can answer them in any order. a. How many different question combinations are possible? b. What is the...
-
Stacks are used by compilers to help in the process of evaluating expressions and generating machine-language code. In this and the next exercise, we investigate how compilers evaluate arithmetic...
-
The Dyrdek Co. had $267,000 in 2014 taxable income. 52 Using the rates from Table 2.3 in the chapter, calculate the company's 2014 income taxes.
-
Ridiculousness, Inc., has sales of $43,800, costs of 52 $22,700, depreciation expense of $2,100, and interest expense of $1,600. If the tax rate is 35 percent, what is the operating cash flow, or OCF?
-
The 2014 balance sheet of Steelo, Inc., showed current assets of $4,630 and current liabilities of $2,190. The 2015 balance sheet showed current assets of $5,180 and current liabilities of $2,830....
-
A scuba diver is exploring a shipwreck at a depth of 30 meters in the ocean. The diver's tank contains 5.0 moles of compressed air at a temperature of 25C. What is the pressure of the air in the tank...
-
1. Determine the atmospheric pressure at a location where the barometric reading is 720 mm Hg. 2. A pressure gauge connected to a tank reads 52 psi at a location where the barometric reading is 29.6...
-
Assume that a bond has an annual coupon rate of 6.80 percent, but makes coupon payments on a semi-annual basis, has a par value of $1,000, a yield to maturity of 7.20 percent, and a current price of...
Study smarter with the SolutionInn App