Need help with 5-7:

million. Given 94 PART 2: FINANCIAL PLANNING AND CONTROL Dane Corporation for next year are expected to the following data, develop a pro forma balance shee Minimum cash balance = $90,000 Accounts receivable = 15% of annual sales Inventory = 10% of annual sales Fixed assets = $1,275,000 (no change) Accounts payable = 4% of annual sales Long-term debt = $360,000 Common stock = $300,000 (no change) earnings during the year earnings = $720,000 plus any additional earnings Net income = 6% of annual sales and no dividends plan Meliss univer of the Airling assum respon Cash Financing required Accounts payable Long-term debt Common stock Retained earnings Total debt & equity Accounts receivable Inventory Fixed assets - fiscal Total assets 5-8 Given the following balance sheet changes, what change, if any, should appes in retained earnings? marketable securities = +$3,000; inventories = +$10,000; depreciation = +$3,000 accounts payable = +$11,000; and notes payable = -$6,000 5-9 The balance sheet of the Christopher Company on December 31, 2012 is given below. The company's sales for 2012 were $100,000. Cash $2,000 Accounts payable $ 10,000 Accounts receivable 17,000 Accruals Inventories 20,000 Mortgage bonds Fixed assets (net) $30,000 Common stock 20,000 Total assets Retained earnings $69,000 Total debt & equity 5,000 14,000 20.000 $69,000 y profit margin after taxes on sales is 4 per IS 4 percent half The Christopher Company's profit margin after ta of which is paid as dividends. Both mortgage bonds a expected to stay the same and all the other balance sheet vary directly with sales. Sales are expected to be (a) Prepare Christopher Company's balance Eage bonds and common stock balance sheet items are expecte are expected to be $160,000 for 2013. 2012. (b) What additional funds will be needed in 20 any s balance items as a percento Percent of sales for