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Lewis Company
Pro Forma Income Statement
December 31, 2007
(Thousands of Dollars)
Sales $8,000
Operating costs 7,450
EBIT $ 550
Interest 150
EBT $ 400
Taxes (40%) 160
Net income $ 240
Less: Dividends:
$1.04 ´ 150 = $ 156
Addition to R.E.= $ 84
Pro Forma Balance Sheet
2007
Cash $ 80
Receivables 240
Inventories 720
Total current assets $1,040
Fixed assets 3,200
Total assets $4,240
Accounts Payable 160
Accrued liab. 40
Notes payable 252
Total current liabilities $ 452
Long-term debt 1,244
Total debt $1,696
Common stock 1,605
Retained Earnings 939
Total liabilities and equity $4,240
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