Munch Manufacturing Income Statement Fiscal Year Ending Sept. 30, 2019 All figures in thousands except per...

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Munch Manufacturing Income Statement Fiscal Year Ending Sept. 30, 2019 All figures in thousands except per share figures Munch Manufacturing Income Statement Fiscal Year Ending Sept. 30, 2019 All figures in thousands except per share figures 2019 2019 Net Sales 257,385 Cash 23,848 Cost of Goods Sold 120,971 Marketable Securities 6,384 Gross Profit 136,414 Accounts Receivable 31,685 S, G&A Expense 91,372 Inventory 16,994 Depreciation Expense 1,318 Prepaid Expenses 866 EBIT 43,724 Total Current Assets 79,777 Interest 2,743 Fixed Assets 66,421 EBT 40,981 Accumulated Depreciation (14,805) Taxes (34%) 13,934 Net Income 27,047 Fixed Assets Net of Depreciation Total Assets 51,616 131,393 Dividends Paid 19,875 Accounts Payable 15,686 Addition to Retained Earnings 7,172 Notes Payable 4,845 Accrued Expenses 14,241 Other Data Total Current Liabilities 34,772 Market Price of Common Shares $ 23.78 Long-Term Debt 22,580 #Shares Outstanding (000s) Weighted Average Cost of Capital 7,500 6.90% Total Liabilities 57,352 Common Stock ($1 Par) 7,500 Average Tax Rate 34.00% Capital Paid In Excess of Par 30,632 Retained Earnings 35,909 Total Common Equity 74,041 Total Liabilities and Equity 131,393 Forescasting Assumptions: 2020 Sales grow by 6.0% over 2019 Sales 2020 Dividends Paid $21,186 Fixed Assets Net of Depreciation increase by $6,500 ($6.5 million) Use 2019 % of Sales figures to forecast 2020 accounts Round all forecasted figures to the nearest dollar Munch Manufacturing Income Statement Fiscal Year Ending Sept. 30, 2019 All figures in thousands except per share figures Munch Manufacturing Income Statement Fiscal Year Ending Sept. 30, 2019 All figures in thousands except per share figures 2019 2019 Net Sales 257,385 Cash 23,848 Cost of Goods Sold 120,971 Marketable Securities 6,384 Gross Profit 136,414 Accounts Receivable 31,685 S, G&A Expense 91,372 Inventory 16,994 Depreciation Expense 1,318 Prepaid Expenses 866 EBIT 43,724 Total Current Assets 79,777 Interest 2,743 Fixed Assets 66,421 EBT 40,981 Accumulated Depreciation (14,805) Taxes (34%) 13,934 Net Income 27,047 Fixed Assets Net of Depreciation Total Assets 51,616 131,393 Dividends Paid 19,875 Accounts Payable 15,686 Addition to Retained Earnings 7,172 Notes Payable 4,845 Accrued Expenses 14,241 Other Data Total Current Liabilities 34,772 Market Price of Common Shares $ 23.78 Long-Term Debt 22,580 #Shares Outstanding (000s) Weighted Average Cost of Capital 7,500 6.90% Total Liabilities 57,352 Common Stock ($1 Par) 7,500 Average Tax Rate 34.00% Capital Paid In Excess of Par 30,632 Retained Earnings 35,909 Total Common Equity 74,041 Total Liabilities and Equity 131,393 Forescasting Assumptions: 2020 Sales grow by 6.0% over 2019 Sales 2020 Dividends Paid $21,186 Fixed Assets Net of Depreciation increase by $6,500 ($6.5 million) Use 2019 % of Sales figures to forecast 2020 accounts Round all forecasted figures to the nearest dollar