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Judd Enterprises These are the simplified financial statements for Judd Enterprises
Judd Enterprises
These are the simplified financial statements for Judd Enterprises.
Income statement Current Projected
Sales na 1,000
Costs na 720
Profit before tax na 280
Taxes (25%) na 70
Net income na 210
Dividends na 63
Balance sheets Current Projected Current Projected
Current assets 100 115 Current liabilities 70 81
Net fixed assets 900 1,080 Long-term debt 400
Common stock 300
Retained earnings 230
Refer to the Judd Enterprises financial statements. What is Judd's projected retained earnings under this plan?
Expert Solution
Computation of the projected retained earnings under:-
Projected retained earnings = Current retained earnings + Net income - Dividends
= $230 + $210 - $63
= $377
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