Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes): ...
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Accounting
Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes):
| Income Statement | Balance Sheet | ||||||||||
| Sales | $ | 32,800 | Assets | $ | 25,950 | Debt | $ | 6,450 | |||
| Costs | 26,290 | Equity | 19,500 | ||||||||
| Net income | $ | 6,510 | Total | $ | 25,950 | Total | $ | 25,950 | |||
| The company has predicted a sales increase of 12 percent. It has predicted that every item on the balance sheet will increase by 12 percent as well. |
| Create the pro forma statements and reconcile them. (Input all amounts as positive values. Do not round intermediate calculations.) |
| Pro forma income statement | Pro forma balance sheet | |||||||
| Sales | $ | Assets | $ | Debt | $ | |||
| Costs | Equity | |||||||
| Net income | $ | Total | $ | Total | $ | |||
| What is the plug variable? |
| The plug variable is |
in the amount of $ .
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