Question

Amounts are in thousands of dollars (except number of shares and price per share):Kiwi Fruit Company Balance Sheet  Cash and equivalents$570    Operating assets 650    Property, plant, and equipment 2,700    Other assets 110     Total assets$4,030     Current liabilities$920    Long-term debt 1,280    Other liabilities 120     Total liabilities$2,320     Paid in capital$340    Retained earnings 1,370     Total equity$1,710     Total liabilities and equity$4,030   Kiwi Fruit Company Income Statement  Net sales$7,800   Cost of goods sold (5,900)   Gross profit$1,900   Operating expense (990)    Operating income$910   Other income 105   Net interest expense (200)     Pretax income$815   Income tax (285)   Net income$530    Earnings per share$2.00   Shares outstanding 265,000   Recent price$34.50 Kiwi Fruit Company Cash Flow Statement  Net income$530  Depreciation and amortization 175   Changes in operating assets (90)  Changes in current liabilities (120)   Operating cash flow$495        Net additions to properties$180   Changes in other assets (80)    Investing cash flow$100        Issuance/redemption of long-term debt$(190)  Dividends paid (220)   Financing cash flow$(410)  Net cash increase$95  Prepare a pro forma income statement, balance sheet, and cash flow statement for Kiwi Fruit assuming a 10 percent increase in sales. (Leave no cells blank – be certain to enter “0” wherever required. Negative amounts should be indicated by a minus sign. Input all amounts as thousands of dollars. Round earnings per share to 2 decimal places. Omit the “$” sign in your response.)Kiwi Fruit Company Pro Forma Income Statement  Net sales$     Cost of goods sold      Gross profit$     Operating expense      Operating income$     Other income    Net interest expense     Pretax income$     Income tax     Net income$      Earnings per share$     Shares outstanding  Kiwi Fruit Company Pro Forma Cash Flow Statement  Net income$     Depreciation and amortization    Changes in operating assets    Changes in current liabilities     Operating cash flow$     Net additions to property$     Changes in other assets     Investing cash flow$       Issuance/redemption of long-term debt$     Dividends paid     Financing cash flow$     Net cash increase$    Kiwi Fruit Company Pro Forma Balance Sheet  Cash and equivalents$     Operating assets    Property, plant, and equipment    Other assets     Total assets$      Current liabilities$     Long-term debt    Other liabilities     Total liabilities$     Paid in capital$     Retained earnings     Total equity$     Total liabilities and equity$    

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