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Complete the Year 2 income statement data for Cute Camel, then answer the questions that follow. Be sure to round each dollar value to the nearest whole dollar. Cute Camel Woodcraft Company Income Statement For Year Ending December 31 Year 1 Year 2 (Forecasted) Net sales $20,000,000 $ Less: Operating costs, except depreciation and amortization 13,000,000 Less: Depreciation and amortization expenses 800,000 Operating income (or EBIT) $6,200,000 $ Less: Interest expense 620,000 Pre-tax income (or EBT) 5,580,000 Less: Taxes (40%) 2,232,000 Earnings after taxes $3,348,000 $ Less: Preferred stock dividends 100,000 Earnings available to common shareholders 3,248,000 Less: Common stock dividends 1,171,800 Contribution to retained earnings $2,076,200 $ Given the results of the previous income statement calculations, complete the following statements: In Year 2, if Cute Camel has 10,000 shares of preferred stock issued and outstanding, then each preferred share should expect to receive in annual dividends. If Cute Camel has 500,000 shares of common stock issued and outstanding, then the firm's earnings per share (EPS) is expected to change from in Year 1 to in Year 2. Cute Camel's before interest, taxes, depreciation and amortization (EBITDA) value changed from in Year 1 to in Year 2 It is to say that Cute Camel's net inflows and outflows of cash at the end of Years 1 and 2 are equal to the company's annual contribution to retained earnings. This is because of the item reported in the income statement involve payments and receipts of cash. Complete the Year 2 income statement data for Cute Camel, then answer the questions that follow. Be sure to round each dollar value to the nearest whole dollar. Cute Camel Woodcraft Company Income Statement For Year Ending December 31 Year 1 Year 2 (Forecasted) Net sales $20,000,000 $ Less: Operating costs, except depreciation and amortization 13,000,000 Less: Depreciation and amortization expenses 800,000 Operating income (or EBIT) $6,200,000 $ Less: Interest expense 620,000 Pre-tax income (or EBT) 5,580,000 Less: Taxes (40%) 2,232,000 Earnings after taxes $3,348,000 $ Less: Preferred stock dividends 100,000 Earnings available to common shareholders 3,248,000 Less: Common stock dividends 1,171,800 Contribution to retained earnings $2,076,200 $ Given the results of the previous income statement calculations, complete the following statements: In Year 2, if Cute Camel has 10,000 shares of preferred stock issued and outstanding, then each preferred share should expect to receive in annual dividends. If Cute Camel has 500,000 shares of common stock issued and outstanding, then the firm's earnings per share (EPS) is expected to change from in Year 1 to in Year 2. Cute Camel's before interest, taxes, depreciation and amortization (EBITDA) value changed from in Year 1 to in Year 2 It is to say that Cute Camel's net inflows and outflows of cash at the end of Years 1 and 2 are equal to the company's annual contribution to retained earnings. This is because of the item reported in the income statement involve payments and receipts of cash

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