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Income Statement Balance Sheet 2. Assume York Corp. (above) pays out half of the net income...

Income Statement Balance Sheet 2. Assume York Corp. (above) pays out half of the net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements and determine the external financing needed. Sales $36,000 Cost of Goods 29,800 Net Income 6,200 Assets 26,400 Debt 6,300 Equity 20,100 Total Assets 26,400 Total Liab’s & Equity 26,400

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York Corp.
Proforma Income Statement for the year ended
Head Value
I. INCOME
Sales $         36,000
Total Income $         36,000
II. EXPENDITURE
Cost of Goods Sold $         29,800
Total Expenditure $         29,800
Net Profit for the year $           6,200
Proforma Balance Sheet
Head Value
I.SOURCES OF FUNDS :
    Equity $         20,100
    Debt $           6,300
TOTAL LIABILITIES $         26,400
II. APPLICATION OF FUNDS :
     Assets $         26,400
TOTAL ASSETS $         26,400

ekkarill92 answered 3 years ago
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