Global Corp expects sales to grow by 9% next year. Assume that Global pays out 50% of its net income. Using the percent of sales method and the data provided forecast the stockholders equity.

Income Statement ($million) Balance Sheet ($million)

Net Sales 186.2Assets

Cost Except Depreciation-175.2Cash 22.9

EBITDA11 Accounts Receivable 18.1

Depreciation and Amortization -1.1Inventories 15.1

EBIT 9.9Total Current Assets 56.1

Interest Income (expense) -7.7 Net Property, Plant, and Equipment113.6

Pre tax Income 2.2 Total Assets169.7

Taxes-0.6

Net Income 1.6 Liabilities and Equity

Accounts Payable 34.4

Long term Debt 113.6

Total Liabilities 148.0

Total Stockholders' Equity 21.7

Total Liabilities and Equity169.7

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