Question

Amounts are in thousands of dollars (except number of shares and price per share):

  

Kiwi Fruit Company Balance Sheet
Cash and equivalents	$	570
Operating assets		650
Property, plant, and equipment		2,700
Other assets		110
Total assets	$	4,030
Current liabilities	$	920
Long-term debt		1,280
Other liabilities		120
Total liabilities	$	2,320
Paid in capital	$	340
Retained earnings		1,370
Total equity	$	1,710
Total liabilities and equity	$	4,030

    

Kiwi Fruit Company Income Statement
Net sales	$	7,800
Cost of goods sold		(5,900	)
Gross profit	$	1,900
Operating expense		(990	)
Operating income	$	910
Other income		105
Net interest expense		(200	)
Pretax income	$	815
Income tax		(285	)
Net income	$	530
Earnings per share	$	2.00
Shares outstanding		265,000
Recent price	$	34.50

   

Kiwi Fruit Company Cash Flow Statement
Net income	$	530
Depreciation and amortization		175
Changes in operating assets		(90	)
Changes in current liabilities		(120	)
Operating cash flow	$	495
Net additions to properties	$	180
Changes in other assets		(80	)
Investing cash flow	$	100
Issuance/redemption of long-term debt	$	(190	)
Dividends paid		(220	)
Financing cash flow	$	(410	)
Net cash increase	$	185

  

Prepare a pro forma income statement, balance sheet, and cash flow statement for Kiwi Fruit assuming a 10 percent increase in sales. (Leave no cells blank - be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign. Input all amounts as thousands of dollars. Round earnings per share to 2 decimal places. Omit the "$" sign in your response.)

    

Kiwi Fruit Company Pro Forma Income Statement
Net sales	$
Cost of goods sold
Gross profit	$
Operating expense
Operating income	$
Other income
Net interest expense
Pretax income	$
Income tax
Net income	$
Earnings per share	$
Shares outstanding

  

Kiwi Fruit Company Pro Forma Cash Flow Statement
Net income	$
Depreciation and amortization
Changes in operating assets
Changes in current liabilities
Operating cash flow	$
Net additions to property	$
Changes in other assets
Investing cash flow	$
Issuance/redemption of long-term debt	$
Dividends paid
Financing cash flow	$
Net cash increase	$

   

Kiwi Fruit Company Pro Forma Balance Sheet
Cash and equivalents	$
Operating assets
Property, plant, and equipment
Other assets
Total assets	$
Current liabilities	$
Long-term debt
Other liabilities
Total liabilities	$
Paid in capital	$
Retained earnings
Total equity	$
Total liabilities and equity	$

Answer 1