I have a multi-step question that I have only been able to partially answer. I have inserted the figures I got for the Sales, Costs, and Net Income on the Pro Forma income statement and the Assets on the blaance sheet statementonly those parts of the answer that I am confident are correct, but I really need help with finding the Debt, Equity, and Total on the Pro Forma Balance Sheet as well as the External Financing needed.<\/p>
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Here is the question: Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes):<\/p>
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Income StatementBalance SheetSales $32,800Assets $25,950Debt $6,450Costs26,290Equity19,500Net income $6,510Total $25,950Total $25,950<\/p>
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The company has predicted a sales increase of 12 percent. Assume Yoo pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not.<\/p>
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Prepare the pro forma statements.(Input all amounts as positive values.Do not round intermediate calculations and round your answers to the nearest whole dollar amount.)<\/p>
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Pro forma income statement Pro forma balance sheet<\/p>
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Sales $36736 Assets $29064 Debt $<\/p>
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Costs $29445 Equity<\/p>
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Net income $7291 Total $29064 Total $<\/p>
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What is the external financing needed?(Do not round intermediate calculations. Negative amount should be indicated by a minus sign.)<\/p>
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External financing needed $<\/p>", "transcribed_text": "", "related_book": { "title": "The Company Valuation Playbook Invest With Confidence", "isbn": "1838470816, 978-1838470814", "edition": "1st Edition", "authors": "Charles Sunnucks", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/2024\/01\/659e8d7741ff1_719659e8d773d380.jpg", "uri": "\/textbooks\/the-company-valuation-playbook-invest-with-confidence-1st-edition-978-1838470814-187563", "see_more_uri": "" }, "free_related_book": { "isbn": "154453101X", "uri": "\/textbooks\/exit-strategy-a-guide-to-successfully-selling-your-business-1st-edition-978-1544531014-360228", "name": "Exit Strategy A Guide To Successfully Selling Your Business", "edition": "1st Edition" }, "question_posted": "2024-06-06 17:09:48", "see_more_questions_link": "\/study-help\/questions\/business-accounting-2024-September-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/given-the-following-information-for-a-retailer-compute-the-cost", "description": "Given the following information for a retailer, compute the cost of goods sold. 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