i am really struggling with this homework assignment can someone please guide me?
Info! Inspira Health Netw.. The Recruiter Acad... Lawson R Pearson - Introducti... ness Management: Launching & Growing Entrepreneurial Ventures - Justin G. Longenecker, etty. Leslie E. Palich, Frank Hoy 2012 2013 Balance Sheets for the learning December 31, 2011, 2012, and 2013 out 2011 Debt abilities and Equity Accounts payable $ 128,000 $ 153,000 Short-term notes payable 250,000 275,000 Other current liabilities 46.000 50,000 Total current liabilities $ 424.000 $ 478,000 Long-term debt 300.000 250.000 Total debt Owner's capital $ 155.560 155.500 Retained earnings Total equity TOTAL DEBT AND EQUITY $ 135,000 275,000 51,152 $461,152 275.000 $ 736,152 $ 155,560 311.604 $ 467,164 $1,203,316 $ 724.000 Questions 1. Given the assumptions that Jantz and Palmer have made, prepare a pro forma income statement and balance sheet for 2014. Assume that the line of credit provided by the bank will be needed for the full year. 2. Using the financial ratios presented in Chapter 10, compare Ashley Palmer's ratios over time, including the pro forma ratios for 2014. If the bank requires a current ratio of at least 15 and a debt ratio not to exceed 35 percent, can the owners expect to be able to honor these covenant 3. Prepare a statement of cash flows for 2013 and the 2014 projections. What did you learn from these statements! 679 to 610 um f Info! Inspira Health Netw.. The Recruiter Acad... Lawson R Pearson - Introducti... ness Management: Launching & Growing Entrepreneurial Ventures - Justin G. Longenecker, etty. Leslie E. Palich, Frank Hoy 2012 2013 Balance Sheets for the learning December 31, 2011, 2012, and 2013 out 2011 Debt abilities and Equity Accounts payable $ 128,000 $ 153,000 Short-term notes payable 250,000 275,000 Other current liabilities 46.000 50,000 Total current liabilities $ 424.000 $ 478,000 Long-term debt 300.000 250.000 Total debt Owner's capital $ 155.560 155.500 Retained earnings Total equity TOTAL DEBT AND EQUITY $ 135,000 275,000 51,152 $461,152 275.000 $ 736,152 $ 155,560 311.604 $ 467,164 $1,203,316 $ 724.000 Questions 1. Given the assumptions that Jantz and Palmer have made, prepare a pro forma income statement and balance sheet for 2014. Assume that the line of credit provided by the bank will be needed for the full year. 2. Using the financial ratios presented in Chapter 10, compare Ashley Palmer's ratios over time, including the pro forma ratios for 2014. If the bank requires a current ratio of at least 15 and a debt ratio not to exceed 35 percent, can the owners expect to be able to honor these covenant 3. Prepare a statement of cash flows for 2013 and the 2014 projections. What did you learn from these statements! 679 to 610 um f
