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help me solve this : Integrativelong dashPro forma statements Red Queen Restaurants wishes to prepare financial plans. Use the financial statements and the other information
help me solve this : Integrativelong dashPro forma statementsRed Queen Restaurants wishes to prepare financial plans. Use the financial statements and the other information provided here LOADING... to prepare the financial plans. The following financial data are also available for next year:
The firm has estimated that its sales will be $ comma
The firm expects to pay $ comma in cash dividends.
The firm wishes to maintain a minimum cash balance of $ comma
Accounts receivable represent approximately of annual sales.
The firm's ending inventory will change directly with changes in sales.
Red Queen will purchase new machine costing $ comma and have total depreciation of $ comma
Accounts payable will change directly in response to changes in sales.
Taxes payable will equal onefourth of the tax liability on the pro forma income statement.
Marketable securities other current liabilities, longterm debt, and common stock will remain unchanged.
a Prepare a pro forma income statement for next year, using the percentofsales method.
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