Helpp

Income StatementBalance Sheet Next Year This YearNext YearRevenue$5,000Total assets$1,000$2,000Operating expenses4,000Liabilities & equity: EBIT1,000Current liabilities$ 576$ 200Interest (8%) ? Long-term debt100?EBT ? Equity 324?Taxes(40%) ? Earnings after tax ? Total liabilities & equity$1,000$2,000 The firm pays 8% interest on all of its debt and is subject to a 40% tax rate. Complete the plan.

1. Emperor Corporation’s financial statements for the last year are shown below. The firm paid a $1,000 dividend to its stockholders during the year. There were no sales of new stock. Balance SheetsASSETS EndingBeginningIncome StatementCash $ 2,000 $ 1,600 Sales$100,000Accounts receivable 12,000 5,200 COGS 80,000Inventory 14,000 15,600 Gross Margin$ 20,000 Current Assets$28,000 $22,400 Cash Expenses$ 8,000Gross Fixed assets$27,000 $20,000 Depreciation 1,600Accumulated depreciation(16,000)(14,400)EBIT $ 10,400 Net fixed assets 11,000 5,600 Interest 800Total assets $39,000 $28,000EBT $ 9,600LIABILITIES Tax 2,600Accounts payable $ 3,000 $ 2,500 Net Income $ 7,000Accruals1,000 1,500 Current Liabilities $ 4,000 $ 4,000 Long term Debt 10,000 5,000 Equity 25,000 19,000 Total liabilities & equity$39,000 $28,000 Develop Emperor’s Statement of Cash Flows.

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