KUIPERS ENTERPRISES 1994 Income Statement Sales $9,000 Cost of goods sold 4,500 Depreciation 700 EBIT $3,800...

Transcribed Image Text:

KUIPERS ENTERPRISES 1994 Income Statement Sales $9,000 Cost of goods sold 4,500 Depreciation 700 EBIT $3,800 Interest paid 600 Taxable income Taxes (34%) $3,200 1,088 Net income $2,112 Addition to retained earnings Dividends $1,512 600 KUIPERS ENTERPRISES Balance sheets ending December 31, 1993 and 1994 1993 1994 Liabilities and Owners' Equity 1993 1994 Assets Current assets Cat Habitis Cash $ 404 $ 247 Accounts payable $ 650 $ 679 Receivables Inventory 1,115 2,870 1,616 Notes payable 375 400 4,225 Other 219 250 Total 1,244 1,329 Fixed assets Net plant and equipment Long-term debt 3,400 3,150 8,452 8,100 Owners' equity Common stock 500 500 Capital surplus 1,300 1.300 Retained earnings 6,397 7,909 Total 8,197 9,709 Total $12,481 $14,188 Total $12,841 $14,188 KUIPERS ENTERPRISES 1994 Income Statement Sales $9,000 Cost of goods sold 4,500 Depreciation 700 EBIT $3,800 Interest paid 600 Taxable income Taxes (34%) $3,200 1,088 Net income $2,112 Addition to retained earnings Dividends $1,512 600 KUIPERS ENTERPRISES Balance sheets ending December 31, 1993 and 1994 1993 1994 Liabilities and Owners' Equity 1993 1994 Assets Current assets Cat Habitis Cash $ 404 $ 247 Accounts payable $ 650 $ 679 Receivables Inventory 1,115 2,870 1,616 Notes payable 375 400 4,225 Other 219 250 Total 1,244 1,329 Fixed assets Net plant and equipment Long-term debt 3,400 3,150 8,452 8,100 Owners' equity Common stock 500 500 Capital surplus 1,300 1.300 Retained earnings 6,397 7,909 Total 8,197 9,709 Total $12,481 $14,188 Total $12,841 $14,188