BCOR 2204-001-013: Princ of Financial Mgmt Shane Mandel & 11/05/215:48 PM = Homework: Finance Homework 1 Question 10, P4-20 (simi... HW Score: 70.00% 47.21 of 60 points Part 10 O Points: 0 of 6 Save Integrative -- Proforma statements Red Queen Restaurants wishes to prepare fnancial plans. Use the francial strements and the other formation provided here to prepare the face plans. The following financial data are so we (1) The firm has estimated that its sales for 2020 will be $100 200 (2) The firm expects to pay $35.100 in cash dividends in 2020 (3) The firm wishes to maintain a minimum cash balance of $37.000 (4) Accounts receivable represent approximately 22% of sales (6) Therm's ending inventory will change directly with changes in in 2020 (6) A new machine costing $42.100 will be purchased in 2020. Totul depreciation for 2020 will be $16.000 (7) Accounts payable will change directly in response to changes in sales in 2020 (6) Taxes payable wil equal one-fourth of the texty on the proforma income statement (9) Marketable securities, the current la long term debit, and common stock will remain unchanged Prepare a proforma income statement for the year ended December 31, 2020, using the percent of a method b. Prepare a pro forma balance sheet dated December 31, 2020, using the judgmental approach c. Analyze these statements, and discuss the resulting eden financing a. Prepare a proforma income statement for the year ended December 31, 2020, using the percent of sales method Complete the proforma income statement for the year ended December 31, 2020 below Round to the nearest Round the percentage of sales to four decimale) Pro Forma Income Statement Red Queen Restaurants for the Year Ended December 31, 2020 Question 10. P4-20 (simi... HW Score: 78.69%. 47.21 of 60 points - X Data table to prepare the fin S Red ilable: ales for in cash nimum pproxim! changed will be p rectly in urth of the rent liabil ement fol aet dated (Click on the icon located on the top-right corner of the data tables below in order to copy its contents into a spreadsheet.) Red Queen Restaurants Income Statement for the Year Ended December 31, 2019 Sales revenue $800,000 Less: Cost of goods sold 599,800 Gross profits $200,200 Less: Operating expenses 99,400 Net profits before taxes $100,800 Less: Taxes (rate=21%) 21,168 Net profits after taxes $79,632 Less: Cash dividends 19,600 To retained earnings $60,032 Red Queen Restaurants Balance Sheet December 31, 2019 Assets Liabilities and Stockholders' Equity Kement for atement to s. - ome Stat Restaura Decembe sales met Print Done Data table prepare the financial plure. The grative Proforma statements Red owing financial data are also available: The firm has estimated that its les for The form expects to pay $35.100 in cash The firm wishes to maintain a minimum Accounts receivable represent approxim The firm's ending inventory will changed A new machine costing 542.100 will be Accounts payable will change directly in Taxes payable will equal one-fourth of the Marketable securities, other current liabi Prepare a proforma income statement to .. Prepare a proforma balance sheet dated Net profits before taxes $100,800 Losses (rate 21%) 21.168 Net profits after tas $79,032 Less: Cash dividends 19,600 To retained earnings $60.032 Red Queen Restaurants Balance Sheet December 31, 2019 Assets Liabilities and Stockholders' Equity Cash $32.200 Accounts payabile $99,200 Marketable securities 17,700 Taxes payable 20,200 Accounts receivable 149.300 Other current liabilities 5.100 Inventories 100,500 Total current 5124.500 Total current assets 5290, 700 Long-term debe $200 400 Netfoxed assets 349,700 Common stock $149.500 Retained eamings $175,000 Total assets $649.400 Total liabilities and equit $649.400 Prepare a proforma income statement to Complete the proforma income statement Pro Forma Income Stat Red Queen Restaura for the Year Ended Decembe (percent-of-sales met Print Done Dear all Check answer Help me solve this View an BCOR 2204-001-013: Princ of Financial Mgmt Shane Mandel & 11/05/215:48 PM = Homework: Finance Homework 1 Question 10, P4-20 (simi... HW Score: 70.00% 47.21 of 60 points Part 10 O Points: 0 of 6 Save Integrative -- Proforma statements Red Queen Restaurants wishes to prepare fnancial plans. Use the francial strements and the other formation provided here to prepare the face plans. The following financial data are so we (1) The firm has estimated that its sales for 2020 will be $100 200 (2) The firm expects to pay $35.100 in cash dividends in 2020 (3) The firm wishes to maintain a minimum cash balance of $37.000 (4) Accounts receivable represent approximately 22% of sales (6) Therm's ending inventory will change directly with changes in in 2020 (6) A new machine costing $42.100 will be purchased in 2020. Totul depreciation for 2020 will be $16.000 (7) Accounts payable will change directly in response to changes in sales in 2020 (6) Taxes payable wil equal one-fourth of the texty on the proforma income statement (9) Marketable securities, the current la long term debit, and common stock will remain unchanged Prepare a proforma income statement for the year ended December 31, 2020, using the percent of a method b. Prepare a pro forma balance sheet dated December 31, 2020, using the judgmental approach c. Analyze these statements, and discuss the resulting eden financing a. Prepare a proforma income statement for the year ended December 31, 2020, using the percent of sales method Complete the proforma income statement for the year ended December 31, 2020 below Round to the nearest Round the percentage of sales to four decimale) Pro Forma Income Statement Red Queen Restaurants for the Year Ended December 31, 2020 Question 10. P4-20 (simi... HW Score: 78.69%. 47.21 of 60 points - X Data table to prepare the fin S Red ilable: ales for in cash nimum pproxim! changed will be p rectly in urth of the rent liabil ement fol aet dated (Click on the icon located on the top-right corner of the data tables below in order to copy its contents into a spreadsheet.) Red Queen Restaurants Income Statement for the Year Ended December 31, 2019 Sales revenue $800,000 Less: Cost of goods sold 599,800 Gross profits $200,200 Less: Operating expenses 99,400 Net profits before taxes $100,800 Less: Taxes (rate=21%) 21,168 Net profits after taxes $79,632 Less: Cash dividends 19,600 To retained earnings $60,032 Red Queen Restaurants Balance Sheet December 31, 2019 Assets Liabilities and Stockholders' Equity Kement for atement to s. - ome Stat Restaura Decembe sales met Print Done Data table prepare the financial plure. The grative Proforma statements Red owing financial data are also available: The firm has estimated that its les for The form expects to pay $35.100 in cash The firm wishes to maintain a minimum Accounts receivable represent approxim The firm's ending inventory will changed A new machine costing 542.100 will be Accounts payable will change directly in Taxes payable will equal one-fourth of the Marketable securities, other current liabi Prepare a proforma income statement to .. Prepare a proforma balance sheet dated Net profits before taxes $100,800 Losses (rate 21%) 21.168 Net profits after tas $79,032 Less: Cash dividends 19,600 To retained earnings $60.032 Red Queen Restaurants Balance Sheet December 31, 2019 Assets Liabilities and Stockholders' Equity Cash $32.200 Accounts payabile $99,200 Marketable securities 17,700 Taxes payable 20,200 Accounts receivable 149.300 Other current liabilities 5.100 Inventories 100,500 Total current 5124.500 Total current assets 5290, 700 Long-term debe $200 400 Netfoxed assets 349,700 Common stock $149.500 Retained eamings $175,000 Total assets $649.400 Total liabilities and equit $649.400 Prepare a proforma income statement to Complete the proforma income statement Pro Forma Income Stat Red Queen Restaura for the Year Ended Decembe (percent-of-sales met Print Done Dear all Check answer Help me solve this View an