Solution-Any financing needed will be raised through the

Any financing needed will be raised through the sale of

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Percent of sales: Tomey Supply Company"s financial statements for the most recent fiscal year are shown below. The company projects that sales will increase by 20 percent next year. Assume that all costs and assets increase directly with sales. The company has a constant 33 percent dividend payout ratio and has no plans to issue new equity. Any financing needed will be raised through the sale of long-term debt. Prepare pro forma financial statements for the coming year based on this information, and calculate the EFN for Tomey.

Tomey Supply Company Income Statement and Balance Sheet
Income Statement		Balance Sheet
Net sales	$1,768,121	Assets:
Costs	1,116,487	Current Assets	$280,754
EBT	651,634	Net Fixed assets	713,655
Taxes(35%)	228,072	Total assets	$994,409
Net income	$423,562
		Liabilities and Equity:
		Current Liabilities	$167,326
		Long term debt	319,456
		Common Stock	200,000
		Retained earning	307,627
		Total liabilities and equity	$994,409

Reference no: EM13575993

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Any financing needed will be raised through the sale of

Reference no: EM13575993

Reference no: EM13575993

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