Business, 21.02.2020 02:40 alisaharnauth

Consider the following financial statement for Heir Jordan Corporation. HEIR JORDAN CORPORATION Income Statement Sales $ 48,500 Costs 34,500 Taxable income $ 14,000 Taxes (35%) 4,900 Net income $ 9,100 Dividends $ 2,900 Addition to retained earnings 6,200 A 20% growth rate in sales is projected. Prepare a pro forma income statement and balance sheet assuming that costs, assets and accounts payable vary with sales, but notes payable do not. Further assume that the dividend payout ratio remains constant.

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Consider the following financial statement for Heir Jordan Corporation. HEIR JORDAN CORPORATION Inco...

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