Jim's Espresso expects sales to grow by 9.6 % next year. Assume that​ Jim's pays out 80.7 % of its net income. Use the following statements and the percent of sales method to​forecast:
a.​ Stockholders' equity
b. Accounts payable
The Tax Cuts and Jobs Act of 2017 temporarily allows​ 100% bonus depreciation​ (effectively expensing capital​ expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career.
Balance Sheet
Assets
Cash and Equivalents $15,050
Accounts Receivable 2070
Inventories 4090
Total Current Assets $21,210
Property, Plant and Equipment 10050
Total Assets $31,260
Liabilities and Equity
Accounts Payable $1,580
Debt 3930
Total Liabilities $5,510
Stockholders' Equity 25750
Total Liabilities and Equity $31,260
Income Statement
Sales $204,560
Costs Except Depreciation (99,880)
EBITDA $104,680
Depreciation (5,960)
EBIT $98,720
Interest Expense (net) (410)
Pretax Income $98,310
Income Tax (34,409)
Net Income $63,901

Respuesta :

Answer:

Stockholder equity = $36,513

Accounts payable = $1,428

Explanation:

Sales next year= 204,560 *  ( 1 + 9.6%)

=204,560 * 0.904

=184922.24

=$184,922

Net income next year = 184,922 * (63,901 / 204,560)

=57766.42

=$55,766

Dividend paid next year= 55,766 * 80.7%

= 45,003.16

=$45,003

a.  Stockholder equity =25750 + 55,766 - 45,003

= $36,513

b. Accounts payable = 1,580 * ( 184922 / 204,560)

=1,428.31

=$1,428