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first image says: Tulley Appliances Inc projects next year's sales to be $20.1 million. Current sales are at $15.3 million, based on current assets of
first image says:
I Question Help Financial forecasting percent of sales Tubey Appliances, Inc. protsent year's sales to be $20.1 milion Current Sales $153 milion based on current of $4 milion and feed assets of The 's De pro marginis 52 percent after takes tulay forecasts that current s will indirect proportion to the increase in sales but feed assets will increase by only $102.000 Current Tey has 51.7 million in accounts payable which wary directly with sales 19 m on in long term dat de in 10 years and common equity including on the retained earnings Boting $66 million Tuey plans to pay $478.000 in common stock didende odyear a. What are Tulley's total financing needs (that is, total assets) for the coming year? Estimate Tulley's financing needs by completing the pro forma balance sheet: (Round the percentages of sales to Next Year % of Sales Tulley Appliances, Inc. Pro Forma Balance Sheet Current assets Net fixed assets Total assets Accounts payables Long-term debt UM ULLUI, wild Net foed assets Total assets Accounts payables Long-term debt Total liabilities Paid in capital Retained earnings Common equity Total liabilities and common equity Tulley Appliances Inc projects next year's sales to be $20.1 million. Current sales are at $15.3 million, based on current assets of $4.9 million and fixed assets of $4.9 million. The firm's net profit margin is 5.2 percent after taxes. Tulley forecasts that current assets will rise in direct proportion to increase in sales, but fixed assets will increase by only $102,000. Currently Tulley has $1.7 million in accounts payable, $1.9 million in long term debt (due in 10 years), and common equity (including $4.1 million in retained earnings) totaling $6.6 million. Tulley plans to pay $476,000 in common stock dividends next year.
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