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I have to prepare a forecasted Balance sheet for 2011 (data given) - 2017. I have included my own formulas for computation but unsure how
I have to prepare a forecasted Balance sheet for 2011 (data given) - 2017. I have included my own formulas for computation but unsure how to include calculations for my assumptions. Please help with how I am to apply the formula or calculation to each assumption so I am able to do it going forward Assume a 3% growth rate and Tax of 33%
Goodwill | $ 407,587 | No change; the same number each year as in 2011 | ||||||
Intangible assets not subject to amortization | $ 301,148 | Change per the rate of sales growth | ||||||
Intangible assets subject to amortization, gross | $ 163,786 | Change per the rate of sales growth | ||||||
Accumulated amortization other intangible assets | $ (14,079) | Balance at the beginning of the year + Amortization expenses for the year | ||||||
Intangible assets subject to amortization, net | $ 149,707 | |||||||
Other longterm assets | $ 6,842 | Change per the rate of sales growth | ||||||
Total Assets: | $ 1,289,470 | |||||||
Liabilities and Stockholders Equity | ||||||||
Current Liabilities: | ||||||||
Current portion of longterm debt | $ 41,700 | No change; the same number each year as in 2011 | ||||||
Accounts payable and accrued liabilities | $ 128,874 | Change per the rate of sales growth | ||||||
Payable to growers | $ 15,186 | Change per the rate of sales growth | ||||||
Total Current Liabilities | $ 185,760 | |||||||
Longterm obligations | $ 490,001 | Balance at the beginning of the year + New debt issued Repayments of debt | ||||||
Deferred income taxes | $ 131,870 | Change per the rate of sales growth | ||||||
Other liabilities | $ 25,969 | Change per the rate of sales growth |
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