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    Accounting Partnership

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    Accounting Partnership

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    © All Rights Reserved
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    3 views2 pages

    Answer

    Uploaded by

    Bahay Bakasyunan sa Camiguin
    Accounting Partnership

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    a.

    Morrissey Technologies Inc.


    Pro Forma Income Statement
    2014
    Sales $3,600,000
    Operating Costs 3,279,720
    EBIT $320,280
    Interest 20,280
    EBT $300,000
    Taxes (40%) 120,000
    Net income $180.000
    Dividends: $1.08 x 100,000 = $108,000
    Addition to RE: $72,000

    *20151 Dividends = $1.12 x 100,000 = $112,000.


    2015
    Basis Pro Forma
    1.10 $3,960,000
    0.9110 3,607,692
    $352,308
    20,280
    $332,028
    132,811
    $000,199
    $ 112,000*
    $87,217

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