HSBC CAPITAL COMPANY

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Income Statement for the Year Ending
December 31 (Millions of Dollars)
2019
Net Sales 600.0$
Costs (except depreciation) 300.0$
Depreciation 60.0$
Earning before int. & tax 240.0$
Less interest 32.0$
Earning before taxes 208.0$
Taxes (25%) 83.2$
Net income before pref. div. 124.8$
Preferred div. 9.0$
Net income avail. for com. div. 115.8$
Common dividends 30.0$
Addition to retained earnings 85.8$
Number of shares (in millions) 10
Dividends per share 3.00$
Tax rate 40%
Balance Sheets for December 31 (Millions of
Dollars)
Assets 2019 Liabilities and Equity 2019
Cash 8.0$ Accounts Payable 16.0$ operating activities
Short-term investments 20.0 Notes payable 60.0 financing activities
Accounts receivable 80.0 Accruals 60.0$ operating activities
Inventories 140.0 Total current liabilities 136.0$
Total current assets 248.0$ Long-term bonds 260.0$
Net plant and equipment 600.0 Preferred stock 100.0$
If you have the following information for HSBC CAPITAL COMPANY
Common Stock
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