Use a spreadsheet model to forecast the financial statements in Problems 17-13 and 17-14.

Problem 17-13:

Morrissey Technologies Inc.’s 2005 financial statements are shown here. 

Morrissey Technologies Inc.: Balance Sheet as of December 31, 2005.

Problem 17-14:

Excess capacity Krogh Lumber’s 2005 financial statements are shown here.

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Cash Receivables Inventories Accounts payable Notes payable Accrued liabilities Total current liabilities Common stock Retained earnings Total liabilities and equity $ 180,000 $ 360,000 360,000 156,000 720,000 180,000 $ 696,000 1,800,000 Total current assets Fixed assets $1,260,000 1,440,000 204,000 Total assets $2,700,000 $2,700,000 Morrissey Technologies Inc.: Income Statement for December 31, 2005 Sales $3,600,000 Operating costs 3,279,720 EBIT $ 320,280 Interest 20,280 $ 300,000 120,000 EBT Taxes (40%) Net Income $ 180,000 Per Share Data: Common stock price Earnings per share (EPS) Dividends per share (DPS) $24.00 $ 1.80 $ 1.08