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A company's financial statements are as follows: Profit and loss 1/1-09-31/12-09 Sales 1000 Variable costs (COGS) 300 Fixed costs 100 Profit 600 Dividend 200 Balance
A company's financial statements are as follows: Profit and loss 1/1-09-31/12-09 Sales 1000 Variable costs (COGS) 300 Fixed costs 100 Profit 600 Dividend 200 Balance sheet 31/12-09 Fixed assets 1000 Equity 800 Current assets 500 Total liabilities 700 Total 1500 Total 1500 For the budget for 2010 the company is expecting sales to increase by 20%. Variable costs will also increase by 20%. Fixed costs are unchanged, and include a depreciation charge of 50. The company will pay the 2009 dividend in 2010. The same dividend (200) is expected in 2010, which will be paid in 2011. All trade creditors are paid in cash, but customers are invoiced. The company expects inventory to increase from 100 to 200. The company gives customers 1 months credit. Debtors at 31/12-09 were 70. Cash was 330 on 1/1-09. Any unused cash is deposited in the company's bank account. The company pays no tax. What is the company's bank account at the end of 2010? A company's financial statements are as follows: Profit and loss 1/1-09-31/12-09 Sales 1000 Variable costs (COGS) 300 Fixed costs 100 Profit 600 Dividend 200 Balance sheet 31/12-09 Fixed assets 1000 Equity 800 Current assets 500 Total liabilities 700 Total 1500 Total 1500 For the budget for 2010 the company is expecting sales to increase by 20%. Variable costs will also increase by 20%. Fixed costs are unchanged, and include a depreciation charge of 50. The company will pay the 2009 dividend in 2010. The same dividend (200) is expected in 2010, which will be paid in 2011. All trade creditors are paid in cash, but customers are invoiced. The company expects inventory to increase from 100 to 200. The company gives customers 1 months credit. Debtors at 31/12-09 were 70. Cash was 330 on 1/1-09. Any unused cash is deposited in the company's bank account. The company pays no tax. What is the company's bank account at the end of 2010
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