Chase Inc. is planning for next year and has the following summarized results so far ($000): Income
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Chase Inc. is planning for next year and has the following summarized results so far ($000):
Income Statement | |
EBIT | 246 |
Interest | ? |
EBT | ? |
Income Tax | ? |
Net Income | ? |
Balance Sheet | ||
This Year | Next Year | |
Assets | 482 | 645 |
Current Liabilities | 53 | 70 |
Debt | 265 | ? |
Equity | 233 | ? |
Total Liab Equity | 682 | 845 |
The firm pays interest of 11% on all borrowing and is subject to an overall tax rate of 38%. It paid interest of $25,000 this year and plans a $85,000 dividend next year. Complete Chase's forecast of next year's financial statements. Round all calculations to the nearest $1,000. What is ending debt?
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