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The most recent financial statements for Hopington Tours Inc. follow. Sales for 2020 are projected to grow by 25%. Interest expense vill remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable Increase spontaneously with sales. The firm is operating at full capacity and no new debt or equity is issued. HOPINGTON TOURS INC. 2019 Statement of Comprehensive Income Sales Costs Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (30%) Net income Dividends Addition to retained earnings Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Costs Other expenses EBIT Interest Taxable income Taxes (30%) Net income Assets Dividends Add. to RE Current assets Cash Accounts receivable Inventory Total HOPINGTON TOURS INC. Pro Forma Statement of Comprehensive Income 25% Sales Total assets Fixed assets Net plant and equipment $20,320 68,580 HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2019 EFN Assets $ 26,000 41,400 87,600 $155,000 Calculate the EFN for 25% growth rates. $300,400 Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.) $455,400 Growth $ Complete the pro forma statement of financial position below. $ $ $750,000 585,000 21,000 $144,000 17,000 $127,000 38,100 $ 88,900 $ $ $ S $ Current liabilities payable Accou Notes payable Total Liabilities and Owners' Equity Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity HOPINGTON TOURS INC. Pro Forma Statement of Financial Position Liabilities and Owners Equity Current liabilities Accounts payable. Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $ 68,700 17,700 $ 86,408 $133,000 Total liabilities and owners' equity $119,000 117,000 $236,000 $455,400 $ $ $ $ S 3 3

The most recent financial statements for Hopington Tours Inc. follow. Sales for 2020 are projected to grow by 25%. Interest expense vill remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable Increase spontaneously with sales. The firm is operating at full capacity and no new debt or equity is issued. HOPINGTON TOURS INC. 2019 Statement of Comprehensive Income Sales Costs Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (30%) Net income Dividends Addition to retained earnings Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Costs Other expenses EBIT Interest Taxable income Taxes (30%) Net income Assets Dividends Add. to RE Current assets Cash Accounts receivable Inventory Total HOPINGTON TOURS INC. Pro Forma Statement of Comprehensive Income 25% Sales Total assets Fixed assets Net plant and equipment $20,320 68,580 HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2019 EFN Assets $ 26,000 41,400 87,600 $155,000 Calculate the EFN for 25% growth rates. $300,400 Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.) $455,400 Growth $ Complete the pro forma statement of financial position below. $ $ $750,000 585,000 21,000 $144,000 17,000 $127,000 38,100 $ 88,900 $ $ $ S $ Current liabilities payable Accou Notes payable Total Liabilities and Owners' Equity Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity HOPINGTON TOURS INC. Pro Forma Statement of Financial Position Liabilities and Owners Equity Current liabilities Accounts payable. Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $ 68,700 17,700 $ 86,408 $133,000 Total liabilities and owners' equity $119,000 117,000 $236,000 $455,400 $ $ $ $ S 3 3

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter4: Financial Planning And Forecasting
Section: Chapter Questions
Problem 7P
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The most recent financial statements for Hopington Tours Inc. follow. Sales for 2020 are projected to grow by 25%. Interest expense will remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable Increase spontaneously with sales. The firm is operating at full capacity and no new debt or equity is issued. HOPINGTON TOURS INC. 2019 Statement of Comprehensive Income Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (30%) Net income Dividends Addition to retained earnings Current assets Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Costs Other expenses EBIT Interest Taxable income Taxes (30%) Net income Assets Dividends Add. to RE Current assets Cash HOPINGTON TOURS INC. Pro Forma Statement of Comprehensive Income 25 % Sales Growth $ Accounts receivable Inventory Total Total assets Fixed assets Net plant and equipment Complete the pro forma statement of comprehensive Income below. (Input all amounts as positive values. Omit $ sign in your response.) EFN $20,320 68,580 HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2019 Assets Calculate the EFN for 25% growth rates. 25% $ 26,000 41,400 87.600 $155,000 $300,400 Complete the pro forma statement of financial position below. $750,000 585,000 21,908 $144,000 17,000 $127,000 38,100 $ 88,900 $455,400 Total liabilities and owners' equity Font Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $ Liabilities and Owners' Equity HOPINGTON TOURS INC. Pro Forma Statement of Financial Position Current liabilities Accounts payable Notes payable Total Liabilities and Owners' Equity Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $ 68,700 17,700 $ 86,400 $133,000 Total liabilities and owners' equity $119,000 117,000 $236,000 $455,400
Transcribed Image Text:The most recent financial statements for Hopington Tours Inc. follow. Sales for 2020 are projected to grow by 25%. Interest expense will remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable Increase spontaneously with sales. The firm is operating at full capacity and no new debt or equity is issued. HOPINGTON TOURS INC. 2019 Statement of Comprehensive Income Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (30%) Net income Dividends Addition to retained earnings Current assets Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Costs Other expenses EBIT Interest Taxable income Taxes (30%) Net income Assets Dividends Add. to RE Current assets Cash HOPINGTON TOURS INC. Pro Forma Statement of Comprehensive Income 25 % Sales Growth $ Accounts receivable Inventory Total Total assets Fixed assets Net plant and equipment Complete the pro forma statement of comprehensive Income below. (Input all amounts as positive values. Omit $ sign in your response.) EFN $20,320 68,580 HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2019 Assets Calculate the EFN for 25% growth rates. 25% $ 26,000 41,400 87.600 $155,000 $300,400 Complete the pro forma statement of financial position below. $750,000 585,000 21,908 $144,000 17,000 $127,000 38,100 $ 88,900 $455,400 Total liabilities and owners' equity Font Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $ Liabilities and Owners' Equity HOPINGTON TOURS INC. Pro Forma Statement of Financial Position Current liabilities Accounts payable Notes payable Total Liabilities and Owners' Equity Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $ 68,700 17,700 $ 86,400 $133,000 Total liabilities and owners' equity $119,000 117,000 $236,000 $455,400
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