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I need help calculating the common stock and retained earnings, external funds required and total liabilities and stockholders' equity, please. Liabilities and stockholders' equity Current
I need help calculating the common stock and retained earnings, external funds required and total liabilities and stockholders' equity, please.
Liabilities and stockholders' equity Current liabilities Accounts payable Accruals Other current liabilities 1718200 505000 80100 Long-term debt 2007900 s 2007900 Total liabilities $4211200 Common stock and Retained Earnings $ External funds required Total liabilities and stockholders' equity Leonard Industries Balance Sheet December 31, 2019 Assets Cash Marketable securities Accounts receivable Inventories Liabilities and Stockholders' Equity $405,000 Accounts payable $1,399,000 399,000 80,100 $1,878,100 2,007,900 3,719,000 200,000 Accruals 1,205,000 Other current liabilities 1,795,000 Total current liabilities Total current assets $3,605,000 Long-term debt Net fixed assets 4,000,000 Common stock Total liabilities and Total assets 7,605,000 stockholders' equity 7,605,000 Pro Forma Balance Sheet Peabody & Peabody December 31, 2021 Assets Current assets 485,000 200,000 $ 1,464,100 S 2,141,700 $ 4,290,800 $ 4,826,000 $ 9,116,800 Marketable securities Accounts receivable Inventories Total current assets Net fixed assets Total assets Pro forma balance sheet Peabody & Peabody has 2019 sales of $10.9 million. It wishes to analyze expected performance and financing needs for 2021-2 years ahead. Given the following information, respond to parts a. and b. 1) The percents of sales for items that vary directy with sales are as follows: Accounts receivable: 12.1% Inventory: 17.7%; Accounts payable 14.2%; Net profit margin, 3.5%. (2) Marketable securities and other current liabilities are expected to remain unchanged. (3) A minimum cash balance of $485,000 is desired. (4) A new machine costing $650,000 will be acquired in 2020, and equipment costing $853,000 will be purchased in 2021. Total depreciation in 2020 is forecast as $289,000, and in 2021 $388,000 of depreciation will be taken. (5) Accruals are expected to rise to $505,000 by the end of 2021 (6) No sale or retirement of long-term debt is expected (7) No sale or repurchase of common stock is expected (8) The dividend payout of 50% of net profits is expected to continue. (9) Sales are expected to be $12.1 million in 2020 and $12.1 million in 2021 (10) The December 31, 2019, balance sheet is here a. Prepare a pro forma balance sheet dated December 31, 2021 h nienuee the finanrinn channoe,einnoetod hu the efatamont nronarad in nart fa December 31, 2021 Liabilitios and stockholders' equity Current liabilities $1718200 505000 80100 $ 2303300 2007900 $ 4211200 Accounts payable Other current liabilities Total current liabilities Long-term debt Total liabilities Common stock and Retained Earnings S External funds required Total liabilities and stockholders' equity$Step by Step Solution
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