SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.

Use the following information to answer the questions No. 10 to 14 below.

Income Statement Balance Sheet

for the year ending December 31, 20XX

December 31, 20XX

(in thousands) (in thousands)

Sales $30,000 Assets:

COGS 13,650 Total Current Assets $ 75,000

16,350 Net Plant & Equipment 52,500

Total Assets $127,500

Selling Expenses 3,000

Depreciation 2,250 Liabilities & Equity:

Fixed Expenses 3,000 Accounts Payable $ 30,000

Notes Payable 7,500

EBIT 8,100 Accrued Expenses 7,500

Taxes (40%) 3,240

Bonds Payable 30,000

Net Income 4,860 Common Stock 30,000

Capital in Excess of Par 15,000

Common Stock Div. 900 Retained Earnings 7,500

Retained Earnings $ 3,960

Total Liabilities & Equity $127,500

Next Year's Forecasted Sales are = $37,500

Assuming that cost of goods sold remain a constant percentage of sales, what is its forecast for next year? Maintaining current dividend policy, what are expected dividends forecast to be next year?

If selling expenses remain a constant percentage of sales, what is their forecast for next year?

What are retained earnings expected to be next year

What are expected taxes for next year?