Hello,

I need to identify accounts payable, warranties, and other current liabilities for year end 12/31/20x2?

Based on historical data, 100% of warranty claims are paid in the year following the sale.

Based on historical data, 85% of inventory is paid for in the year of purchase with the remaining 15% paid for in the year following the purchase.

20x1 balance sheet is below:

Cash Budget Beginning cash balance $48,230,500 Add cash receipts Collections from customers $282,393,500 Collections from investments $5,849,490 Total cash available $336,473,490 Deduct disbursements Cash payments for inventory $220,187,500 Utilities, maintenance, and facilities $850,000 Executive and administrative salaries $9,000,000 Marketing and promotions $31,875,000 Sales commissions $9,562,500 Warranties $2,764,000 Shipping and handling costs $3,187,500 Insurance $6,712,500 Accrued expenses and other $3,558,000 Long-term debt $3,500,000 Dividends $0.00 Income tax $0.00 Total cash payments $291,197,000 Budgeted ending cash balance $45,276,490Assets Current assets Cash and equivalents Short term investments Net receivables Inventories Other current assets Total current Non-current assets Long term investments Net property, plant and equipment Other assets Total noncurrent Total assets 48,230,500 45,050,000 11,455,000 11,250,000 6,843,000 I 64,257,000 .| 45,124,000 7,935,000 ABC Company Balance Sheet Year end 12/31/20X1 Liabilities 8: Shareholders Equity Current liabilities Accounts payable Warranties Accrued expenses Other current liabilities Total current 122,329,500 Non-current liabilities Long term debt Total non-current Total liabilities 118,366,000 Shareholders equity 241,195,500 Common stock Additional Paid-In Capital Treasury stock Retained earnings Total shareholders equity Total liabilities & shareholders equity 30,000,000 2,754,000 2,210,000 1,348,000 70,000,000 70,000,000 9,255,000 9,957,000 (15,219,000) 130,859,500 36,322,000 106,322,000 134,873,500 241,195,500 Budgeted Interest Expense Beginning long-term debt balance $70,000,000 Payments on long-term debt $3,500,000 Ending long-term debt balance $66,500,003_ Interest expense on ending balance $7,980,00I Schedule of Cash Receipts from Sales Beginning accounts receivable $11,456,000 Cash receipts from current year sales $270,937,500 Total cash receipts on sales $282,393,500 Schedule of Cash Receipts from Investments Interest received from short-term investments $1,351,500 Interest received from long-term investments $4,497,990 Total cash collections on investments $5,849,490 Schedule of Cash Payments for Inventory Beginning accounts payable $30,000,000 Cash payments for inventory purchased this year $190,187,500 Total cash payments for inventory $220,187,500I Schedule of Cash Payments for Warranties Cash payments for warranties - previous year's estimate $2,764,000 Total cash payments for warranties $2,764,000 Inventory Purchases Budget Sales units + Target ending inventory Total units required - Beginning inventory Number of units to purchase Unit Cost Cost of Purchases Cost of goods available for sale Cost of goods sold Model A 50 5 55 5 55 $1,000,000 $55,000,000 $60,000,000 $50,000,000 Model B 150 5 155 5 155 $750,000 $116,250,000 $120,000,000 $112,500,000 Model C 100 5 105 5 105 $500,000 Total 300 15 315 15 315 $2,250,000 $52,500,000 $223,750,000 $55,000,000 $235,000,000 $50,000,000 $212,500,000