Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help calculating the balances for two forecasted balance sheet accounts - 1) Retained Earnings and 2) PPE . I keep getting 7357 for

I need help calculating the balances for two "forecasted" balance sheet accounts - 1) Retained Earnings and 2) PPE. I keep getting 7357 for Retained Earnings, and 5200 for PPE, net and these numbers are wrong.

Assumptions for the EST FY2017 Balance Sheet are below.

Ordinary shares No change in $ amount
Accumulated other comprehensive (loss) income No change in $ amount
Property, plant, and equipment, net in FY2015 $4,699 million
CAPEX in FY2016 $1,046 million
Depreciation expense in FY2016 $890 million
Dividends in FY2016 (use dividends payout ratio to forecast dividends) $2,139 million
Current maturities of debt due in FY2017 $993 million
Current maturities of debt due in FY2018 $6,176 million

Information taken off prior years B-Sheets, and the Forecasted 2017 Income Statement:

2017 FY Forecasted Net Income $4972; 2016 FY Net Income $3538; 2015 FY Net Income $2675

2017 FY Forecasted Net Sales $35176, 2016 FY Net Sales $28833, 2015 FY Net Sales $20264

2016 FY PPE, net $4841; 2015 FY PPE, net $4699

2016 FY Retained Earnings $53,931; 2015 FY Retained Earnings $54,414

Accumulated Other Comprehensive losses FY 2016 ($1868); FY 2015 $1184; Total Shareholders Equity FY 2016 $99,782, FY 2015 $106685

Ordinary shares are $0 for all years.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

4. How is culture a contested site?

Answered: 1 week ago