Chapter 2 – Book Problems

Dividends paid = Addition to RE = Proforma balance sheet. Asset 9790 Debt = 5,100. Equity=(Beg Equity +RE) 5,725. Total 9790 10,825. EFN = Increase in assets – Increase in liabilities = 3. Proforma Income statement Profoma Balance Sheet *Sales 23,040 Assets 111,600 Debt 20400. Costs 18,660 Equity 74335. Taxable Inc. 4380 ................
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