Samson’s Sailboats Inc. recently reported the following income statement (in millions of dollars):

Samson’s Sailboats Inc. recently reported the following income  statement (in millions of dollars):

                                                                                 2018                

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Samson’s Sailboats Inc. recently reported the following income statement (in millions of dollars):
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               Sales                                                     $3,500                 

               Operating costs                                 2,500                  

               EBIT                                                      $1,000                  

               Interest                                           200                       

               EBT                                                         $800 

               Taxes (40%)                                           320                  

               Net income                                         $ 480                  

               Dividends (40%)                                $ 

               Addition to retained earnings     $ 

This year the company is forecasting a 40% increase in sales, and it expects that its year end operating costs will decline to 60% of sales. Samson’s tax rate, interest expense, and dividend payout ratio are all expected to remain constant. 

 What is Samson’s projected 2019 Net Income?

What is the projected 2019 paid out Dividend?

 What is the forecasted addition to Retained Earnings to 2019?

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Kenney Corporation recently reported the following income statement for           2013 (numbers are in millions of dollars):

                                                                              2018                       2019

Sales                                                              $ 7,000

Operating costs                                                             3,000

EBIT                                                               $ 4,000

Interest                                                                 200

Earnings before taxes (EBT)                                    $ 3,800

Taxes (40%)                                                      1,520

Net income available to common shareholders   $ 2,280

The company forecasts that its sales will increase by 10% in 2019 and its operating costs will increase in proportion to sales. The company’s interest expense is expected to remain at $200 million, and the tax rate will remain at 40%. The company plans to pay out 50% of its net income as dividends, the other 50% will be additions to retained earnings.

  1. What is Kenney’s projected 2019 Net Income?
  2. What is the projected 2019 paid out Dividend?
  3.  What is the forecasted addition to Retained Earnings to 2019?

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