Author Question: CN is North America's fifth largest railroad. CN is forecasting its financial statements for Year 3. ... (Read 66 times)

Sufayan.ah · **on:** Apr 25, 2021

CN is North America's fifth largest railroad. CN is forecasting its financial statements for Year 3. Selected financial information for Year 2 is provided in the table. What is Retained Earnings for Year 3?

Selected Financial Information

CN Railway Company ($000'000s)

	Year 2	Ratios (to sales)	Forecast Year 3
Revenue	$6,110		$6,721
COGS	2,550	0.417349
Dep. Exp.	499		555
Other Expenses	1,945	0.318331
EBIT	1,116
Int. Exp.	277		259
EBT	839
Provision for Income Taxes	268	0.31943*
Net Income	$571
Retained Earnings	$2,762
Owner's Equity	$6,627

*The tax rate is a percentage of Earnings Before Tax.
◦ $2,762
◦ $3,128
◦ $3,293
◦ $3,417
◦ $3,630

peter · **Reply #1 on:** Apr 25, 2021

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