Question: Year 2014 Actual 2015 First Pass 2015 Final Pass Net sales $20,613 Growth rate in net sales 25.0% Cost of goods sold / net sales
| Year | 2014 Actual | 2015 First Pass | 2015 Final Pass |
| Net sales | $20,613 |
|
|
| Growth rate in net sales |
| 25.0% |
|
| Cost of goods sold / net sales |
| 82.0% |
|
| Gen., sell., and admin. expenses/net sales |
| 12.0% |
|
| Long-term debt | $2,760 | $2,460 |
|
| Current portion long-term debt | $300 | $300 |
|
| Interest rate |
| 10.0% |
|
| Tax rate |
| 25.0% |
|
| Dividend / earnings after tax |
| 60.0% |
|
| Current assets / net sales |
| 38.0% |
|
| Net fixed assets |
| $1,420 |
|
| Current liabilities except current portion long-term debt /net sales |
| 14.0% |
|
| Owners' equity | $2,730 |
|
|
| INCOME STATEMENT |
|
|
|
|
|
|
|
|
| Year |
| 2015 First Pass | 2015 Final Pass |
| Net sales |
| $25,766 |
|
| Cost of goods sold |
| 21,128 |
|
| Gross profit |
| $4,638 |
|
| Gen., sell., and admin. exp. |
| 2,535 |
|
| Interest expense |
| Q1 | Q3 |
| Earnings before tax |
| 1,827 |
|
| Tax |
| 457 |
|
| Earnings after tax |
| $1,370 |
|
| Dividends paid |
| $822 |
|
| Additions to retained earnings |
| $548 |
|
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|
| BALANCE SHEET |
|
|
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| Current assets |
| $9,791 |
|
| Net fixed assets |
| 1,420 |
|
| Total assets |
| $11,211 |
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|
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|
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| Current liabilities except current portion long-term debt & external financing |
| $3,607 | |
| External Financing |
| 0 | Q4 |
| Current portion long-term debt |
| 300 |
|
| Long-term debt |
| 2,460 |
|
|
|
|
|
|
| Owner's equity |
| 3,278 |
|
| Total liabilities and owners' equity |
| $9,645 |
|
| EXTERNAL FUNDING REQUIRED |
| Q2 |
|
What number belongs in box Q1?
What number belongs in box Q2?
What number belongs in box Q3?
What number belongs in box Q4?
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