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Need help solving the Pro Forma Balance Sheet Please use the following projections for Top-A1 Inc.: - Total sales of $149,000 - Cost of goods
Need help solving the Pro Forma Balance Sheet
Please use the following projections for Top-A1 Inc.: - Total sales of $149,000 - Cost of goods sold equal to 77.8 percent of sales - Total expenses equal to 14.6 percent of sales - Tax rate of 35 percent - Beginning equity of $47,400 - Beginning inventory of $11,400 - Age of ending inventory of 61 days - Minimum cash balance of $10,000 - Accounts receivable of 28 days - Fixed assets of $61,600 - Accounts payable of 34 days Assume Top-A1 has a dividend payout of 40 percent. Complete the pro-forma balance sheet below: (Round to the nearest dollar.) Please use the following projections for Top-A1 Inc.: - Total sales of $149,000 - Cost of goods sold equal to 77.8 percent of sales - Total expenses equal to 14.6 percent of sales - Tax rate of 35 percent - Beginning equity of $47,400 - Beginning inventory of $11,400 - Age of ending inventory of 61 days - Minimum cash balance of $10,000 - Accounts receivable of 28 days - Fixed assets of $61,600 - Accounts payable of 34 days Assume Top-A1 has a dividend payout of 40 percent. Complete the pro-forma balance sheet below: (Round to the nearest dollar.)Step by Step Solution
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