EASSY Manufacturing Company presents the following: Statement of Comprehensive Income December 31, 2018 Sales 480,000 Cost of sales 336,000 Gross profit Operating expenses 144,000 57,600 Income before...

Extracted text: EASSY Manufacturing Company presents the following: Statement of Comprehensive Income December 31, 2018 Sales 480,000 Cost of sales 336,000 Gross profit Operating expenses 144,000 57,600 Income before taxes 86,400 Income tax (30%) 12,960 73,440 Net income P Statement of Financial Position December 31, 2018 Current assets 420,000 Non-current assets 500,000 Total assets 920,000 Current liabilities 90,000 Non-current liabilities 250,000 490,000 Ordinary shares Retained earnings Total liabilities and shareholders' equity 90,000 P 920,000 Additional information: 1. Dividends payout is 60%. 2. Only current assets and current liabilities are directly related to sales. 3. The business expects a 30% increase in sales next year. 4. The business is expecting to retain 40% of the earning next year. Expected increase in assets Your answer Spontaneous increase in current liabilities. Your answer