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Balance Sheet as of December 3 1 , 2 0 1 9 ( Thousands of Dollars ) Stevens grew rapidly in 2 0 1 9
Balance Sheet as of December Thousands of Dollars
Stevens grew rapidly in and financed the growth with notes payable and longterm bonds. Stevens expects sales to grow by in the next
year but will finance the growth with a line of credit, not notes payable or longterm bonds. Use the forecasted financial statement method to forecast
a balance sheet and income statement for December The interest rate on all debt is and cash earns no interest income. The line of
credit is added at the end of the year, which means that you should base the forecasted interest expense on the balance of debt at the beginning of
the year. Use the forecasted income statement to determine the addition to retained earnings. Assume that the company was operating at full
capacity in that it cannot sell off any of its fixed assets, and that assets, spontaneous liabilities, and operating costs are expected to increase by
the same percentage as sales. Determine the required line of credit. Do not round intermediate calculations. Round your answers to the nearest
dollar.
Total assets: $
LOC: $
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