Kim Lee CFA is trying to forecast net income for
Kim Lee, CFA, is trying to forecast net income for Robinson’s Ltd, a chain of retail furniture outlets. He has prepared the following common sized data from their recent annual report and has estimated sales for 2013 using a forecast model his firm developed for consumer goods.
The capital structure of the company has not changed. The projected net income (in $ millions) for 2008 is closest to:
A.110.1.
B.162.8.
C.167.4.
参考解答
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2024-11-11 13:32:22
Ans:C.
The COGS and operating expenses are relatively constant over the tow-year period and averages of then can reasonably be used to forecast 2013. Interest expense is declining as a percent of sales, implying it is a fixed cost. Conversion into dollars for each year shows what interest expense has been (2007=$80,2006 +$80) and that would be a reasonable projected amount to use. The restructuring charge should not be included as it is a non-recurring item. The tax rate, 30%, is given.
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