Q13. Data for Barry Computer Company and its industry averages is as follows:

Q13. Data for Barry Computer Company and its industry averages is as follows:

Balance Sheet
Assets ($ 000) Liabilities & Equity ($ 000)
Cash 77,500 Accounts payable 129,000
Accounts receivable 336,000 Notes payable 84,000
Inventory 241,500 Other current liabilities 117,000
Total current assets 655,000 Total current liabilities 330,000
Fixed assets 292,500 Tong term debt 256,500
Common equity 361,000
Total Assets 947,500 Total Liabilities & Equity 947,500
Income Statement
($ 000) ($ 000)
Sales 1,607.5
Cost of goods sold
Materials 717
Labour 453
Heat, light, and power 68
Indirect labour 113
depreciation 41.5 1,392.5
Gross profit 215
Selling expense 115
Genral and admin expenses 30
EBIT 70
Interest 24.5
EBT 45.5
Tax (40% of EBT) 18.2
Net profit 27.3
RATIO BARRY INDUSTRY AVERAGE
Current ratio 2.0x
Days Sale Outstanding / average collection period 35 days
Sales /inventory 6.7x
Sales / total assets 3.0x
Net Income / Sales 1.2%
Net Income / total assets 3.6%
Net Income / common equity 9.0%
Total Debt / Total Assets 60.0%

*Calculation is based on a 360 day year.

Calculate the industry ratios for barry?

Q14. Here is data for allied food products for the year 2006.

Allied Food Products
Balance Sheet
For the year ended on 31 December 2006.
Assets (Rs. In Millions) Liability & Equity (Rs. In Millions)
Cash and Marketable Securities 10 Total Current Liability 310
Accounts Receivable 375 Long Term Bonds 754
inventories 615 Total Debt 1,064
Total Current Assets 1,000
Common Stock 170
Plant and Equipment 1,000 Retained Earnings 766
Total Common Equity 896
2,000 2,000

· Sales for the year 2006 were Rs. 3 Billion and they are expected to grow by 10% by 2007.

· long term debt and common stocks will remain content in 2007.

· The difference in the balance sheet belongs to retained earnings.

Prepare a projected balance sheet for Allied Food Products for the year 2007 using percentage of sales method?

Q15. Here is data for allied food products for the year 2006.

Allied Food Products
Income Statement
For the year ended on 31 December 2006.
(Rs. In Millions)
Sales 3,000
Cost except depreciation 2,616
Depreciation 100
Total operating cost 2716
EBIT 284
Interest 88
EBT 196
Tax (40% of EBT) 78
Net Income Available for Common shareholders 118
Dividend (50 % of net profit) 59
Addition to retained earnings 59

· Sales for the year 2006 were Rs. 3 Billion and they are expected to grow by 10% by 2007.

· Depreciation and interest will remain content in 2007.

Prepare a projected income statement for Allied Food Products for the year 2007 using percentage of sales method?

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