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Western University
Business Administration
Business Administration 1220E
Scott Lin

Lawsons Projected Statement of Earnings Year Ended January 31 2004 Revenues Sales 10% each year 715,231 COGS: Beginning Inventory Given 199,700 Purchases (plug) 520,252 COGAFS (COGS + EI) 719,952 Ending Inventory Assuming 146, then 140 days 205,700 COGS Same 71.9% 514,251 Gross Profit 200,980 Operating Expenses Store Salaries Same $ 44,578 Heat and Utilities Same % 10,013 Building Maintenance and Repairs Same % 715 Rent and Property Tax Same % 26,464 Insurance and Taxes Same % 7,868 Depreciation - Furniture and Fixtures Same $ 7,828 Depreciation - Leaseholds Same $ 3,176 Other Same % 30,755 Total Operating Expenses 131,396 EBIT 69,583 Interest on Long-term debt Given 27,500 Net Earnings 42,083 Lawsons Projected SORE Retained Earnings, Year Open - 18,514 Net Earnings 42,083 Dividends (given $) Same $ 42,380 Retained Earnings, Year End - 18,811 Lawsons Projected BS Current Assets Cash (same) Same $ 9,664 A/R Same days (7) 13,717 Prepaids Same $ 3,760 Inventory 205,700 Total Current Assets 232,841 Fixed Assets Furniture and Fixtures, Cost 61,200 Le
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