Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. income statement for the present year net sales $

Income Statement for the Present Year Net sales $14,650 Costs $12,103 ...

60.1K

Verified Solution

Question

Accounting

Income Statement for the Present Year

Net sales

$14,650

Costs

$12,103

Taxable income

$2,547

Taxes

$866

Net income

$1,681

Wintergreen, Inc. Balance Sheet for the Present Year

Cash

$525

Accounts payable

$1,963

Accounts receivable

$3,135

Notes payable

$2,618

Inventory

$976

Total

$4,581

Total

$4,636

Long-term debt

$6,600

Net fixed assets

$23,770

Common stock

$7,500

Retained earnings

$9,725

Total assets

$28,406

Total liabilities and equity

$28,406

Assets, accounts payable and costs are proportional to sales. Debt and equity are not. Sales of Wintergreen, Inc. are expected to increase by 6% next year. Wintergreen is currently operating at maximum capacity. Wintergreen has a 20% dividend pay out ratio. What is the external financing need?


Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

If you were the CEO of a company, what would you do to your compensation and...

Physics
1.2K views

A 12 V battery is attached to a 12 Q resistor and an unknown resistor...

Physics
1.2K views

16 A man of mass m is standing on a plank of equal mass m...

Basic Math
1.2K views

The area of a shaded sector of the circle in the figure is and What...

Basic Math
1.2K views

Choose the correct answer The economic model that displays income as moving continuously between businesses...

Calculus
1.2K views

If x + y + z = 9, dx/dt= 8, and dy/dt =5, find dz/dt...

Algebra
1.2K views

1. [10 pts] Rohan is an extremely lucky individual - each time he entersa giveaway...

Accounting
1.2K views

TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and...

Accounting
1.2K views

Kansas Plating Company reported a cost of goods manufactured of $260,000, with the firm's year-end...

Accounting
1.2K views

Which of the following is not one of the overarching ethical principles of the Institute...

Accounting
1.2K views

Suppose that the current 1-year rate (1-year spot rate) and expected 1-year T-bill rates over...

Accounting
1.2K views

Cules de estos tipos de asientos se consideran automticos en General Ledger? (Elija dos opciones)...