Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Garlington Technologies Incis 2019 financial staternents are shown below: Income Statement for December 31, 2019 Balance Sheet as of December 31,2019 Suppose that in 2020

image text in transcribed
image text in transcribed
Garlington Technologies Incis 2019 financial staternents are shown below: Income Statement for December 31, 2019 Balance Sheet as of December 31,2019 Suppose that in 2020 sales incresse to $4.6 million and that 2020 dividends will increase to $226,000. Forecast the finanoal statements using the forecasted financial statement method. Assume the firm operated at fuli capacity in 2019. The long-term bonds have an interest rate of 104 . New financing will be with a line of credit. Assume it will be added at the end of the year. Cash does not earn any interest income, Enter your answers as positive values. Do not round intermediate calculations. Round your answers to the nearest dollac. Garlington Technologles Inc. Pro Forma Balance Statement December 31,2020 Cash 5 Receivables Inventories Total current assets Fixed assets Total assets Accounts payable Line of credit Accruals Total current liabilities LT bonds Common stock Retained earnings Total L\&E \begin{tabular}{|l|l|} \hline$ & \\ $ & \\ $ & \\ $ & \\ $ & \\ $ & \\ $ & \\ $ & \\ $ & \\ $ & \\ $ & \\ $ & \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

What are the arguments to be made to sell the gum?

Answered: 1 week ago