FINANCIAL DETAILS

Balance Sheet	2019/12/31
Current Assets
Cash	1,243,926
Inventory	2,317,097
Accounts Receivables	244,327
Current Assets	3,805,350
Fixed Assets	15,713,298
Total Assets	19,518,648
Current Liabilities
Accounts payable	2943496
Notes payable	183969
short term debt	551905
Total Current Liabilities	3679370
Long term Liabilities	7,668,288
Shareholders Equity	8,170,990
Total Liabilities and Shareholder Equity	19,518,648

Bottom of Form

Statement of Income	2019/12/31
Sales (on Credit)	9,882,996
- Cost of goods sold	6,371,919
Total Income	3,511,077
+ Other Revenues	-
Total Revenues	3,511,077
-Admin and Marketing Expenses	1,123,998
-Depreciation	714,153
Operating Profit (EBIT)	1,672,926
- Interest Expenses	181,352
Net Income Before Zakat	1,491,574
Zakat (tax)	50,946
Net Income	1,440,628

Additional Information:

Next years sales are projected to increase by 5%.

The following items will change in proportional to sales.

1. Cost of goods sold
2. Admin and Marketing Expenses
3. All assets
4. Accounts payable

The following items will not change in proportional to sales.

5. Long term Debt (liabilities) and Shareholders equity are not.

Assume a dividend payout ratio of 50%. tax rate of 4%.

Compute the following:

1. EXTERNAL FUND REQUIREMENT

1. Create the pro-forma statement for the year 2020.
2. What is the external nancing needed for the year 2020?
3. Reconcile the pro-forma statements ?
4. Calculate the Internal and external growth rate for the year 2019.

2. CASH & LIQUIDITY MANAGEMENT for the year 2019

5. Calculate the operating cycle for the year 2019.
6. Calculate the cash cycle for the year 2019.
7. For how many days does the company need to arrange for cash funding for the year 2019.