The Following Balance Sheet and Income Statement Pertain to Goode
Question 49
Question 49
Essay
The following balance sheet and income statement pertain to Goode Corp.,using the following assumptions complete a forecasted 2013 income statement: Assumptions far 2013: Revenue growth rate COGS Operating expenses Interest expense Tax rate 45%70% of sales 18% of sales 12% of begining lang-term debt 35% Goode corp. Consolidated Statement of Income (Thousands except per share amounts) Net Revenues Cost of Revenue SG&A Operating Income Interest Expense Income Before Income Taxes Income taxes Net Income Goode Corp Consolidated Balance Sheet (Thousands) Current Assets Cash and Equivalents Merchandise inventory Accounts receivable PPE (including intangibles), net Total AssetsLiabilities and Stockholders’ Equity Accounts payableLong-term debtShareholders’ EquityCommon stock and APICRetained earningsTotal Liabilities and Shareholders’ Eq.2012$345,871(226,546)(83,009)36,316(484)35,832(12,541)$23,29120127,9056,3086,61439,45860,2859,64313,50028,6138,52960,285
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