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Question - Edmonds Industries is forecasting the following income statement:
Sales $10,000,000
Operating costs excluding depreciation and amortization 5,500,000
EBITDA $4,500,000
Depreciation and amortization 1,200,000
EBIT $3,300,000
Interest 500,000
EBT $2,800,000
Taxes (40%) 1,120,000
Net income $1,680,000
The CEO would like to see higher sales and a forecasted net income of $2,100,000. Assume those operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 6%. The tax rate, which is 40%, will remain the same. (Note that while the tax rate remains constant, the taxes paid will change.) What level of sales would generate $2,100,000 in net income?
Ace Industries has current assets equal to $3 million. The company's current ratio is 1.5, and its quick ratio is 1.0. What is the firm's level of current.
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