Amounts are in thousands of dollars (except number of shares and price per share): ...

80.2K

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Question

Accounting

Amounts are in thousands of dollars (except number of shares and price per share):

Kiwi Fruit Company Balance Sheet

Cash and equivalents

$

570

Operating assets

650

Property, plant, and equipment

2,700

Other assets

110

Total assets

$

4,030

Current liabilities

$

920

Long-term debt

1,280

Other liabilities

120

Total liabilities

$

2,320

Paid in capital

$

340

Retained earnings

1,370

Total equity

$

1,710

Total liabilities and equity

$

4,030

Kiwi Fruit Company Income Statement

Net sales

$

7,800

Cost of goods sold

(5,900

)

Gross profit

$

1,900

Operating expense

(990

)

Operating income

$

910

Other income

105

Net interest expense

(200

)

Pretax income

$

815

Income tax

(285

)

Net income

$

530

Earnings per share

$

2.00

Shares outstanding

265,000

Recent price

$

34.50

Kiwi Fruit Company Cash Flow Statement

Net income

$

530

Depreciation and amortization

175

Changes in operating assets

(90

)

Changes in current liabilities

(120

)

Operating cash flow

$

495

Net additions to properties

$

180

Changes in other assets

(80

)

Investing cash flow

$

100

Issuance/redemption of long-term debt

$

(190

)

Dividends paid

(220

)

Financing cash flow

$

(410

)

Net cash increase

$

95

Prepare a pro forma income statement, balance sheet, and cash flow statement for Kiwi Fruit assuming a 10 percent increase in sales.

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