hi

1-Given the following information: sales in 2019 = $800000, profit margin= 8%, net income= $64000, the company paid 50% as dividends, and it prefers to maintain this ratio in the future, FIND the additional finance needed for 2020, and forecast the financial statements using the percentage of sales approach, if 2020 expected sales= $1200000, spontaneous liabilities are: account payable , and accruals). Balance Sheet as of December 31, 2019 ( Dollars) Cash $40000 Account payable $32000 Account receivable 80000 Accruals 24000 Inventories 56000 Notes payable 40000 Total current assets 176000 Total current liabilities 96000 Net fixed assets 72000 Long term debt 48000 Common stock 70000 Retained earnings 34000 Total assets $248000 Total Liabilities & equity $248000