Consider Brighton’s results for Year 0 (see excel click here). The sales forecast for Year 1 is given in excel. In addition, Brighton plans on paying dividends of $20,000 in Year 1, they have 40,000 shares of common stock outstanding and for simplification, assume their tax expense is 35% of EBT. For Year 1, forecast Brighton’s:

Question

14-02-2020
Business

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Consider Brighton’s results for Year 0 (see excel click here). The sales forecast for Year 1 is given in excel. In addition, Brighton plans on paying dividends of $20,000 in Year 1, they have 40,000 shares of common stock outstanding and for simplification, assume their tax expense is 35% of EBT. For Year 1, forecast Brighton’s:

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hyderali230 hyderali230 · Answer 1 · 2020-02-17T13:44:40+01:00

Answer:

EPS is $5.36 per share

Retained Earning is $1,294,500

Explanation:

Financial Statement section of this question is missing which is attached with this answer. This answer is made according to attached data, Please find that.

Number of Shares = 40,000

Earning Per share = Net Income / Number of Shares

Earning Per share = 214,500 / 40,000 = $5.36 per share

Retained Earning = 1,100,000.00 + 214,500.00 - 20,000.00 = 1,294,500

Income Statement

Year 0 1

Sales 1,000,000.00 1,200,000.00

Variable Expenses (600,000.00) (720,000.00)

Contribution Margin 400,000.00 480,000.00

Fixed Expenses (150,000.00) (150,000.00)

Operating Income 250,000.00 330,000.00

Nonrecurring Gain 75,000.00

Tax Expense (113,750.00) (115,500.00)

Net Income 211,250.00 214,500.00