PLEAE EXPLAIN HOW YOU GET NOTES PAYABLE AND DOWNWARDS FROM THERE ON XL. ALSO PART A AND B

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Home Insert Dw Page Layout Formulas Data Review View Help - 10 23 Wrap Text A E Merge & Center Currency $ % 9.2 BIU Conditional Formatas Cell Formatting Table Styles Number 661 B D H 2/1/2012 Module 09. Student Ch 09-10 Build a Model 6 7 Zieber Corporation's 2012 financial statements are shown below. Forecast Zeiber's 2013 income statement and 8 balance sheets. Use the following assumptions: (1) Sales grow by 6%. (2) The ratios of expenses to sales, 9 depreciation to feed assets, cash to sales, accounts receivable to sales, and inventories to sales will be the same 10 in 2013 as in 2012 (3) Zeiber will not issue any new stock or new long-term bonds. (4) The interest rate is 9% for 11 short-term debt and 11% for long-term debt. (5) No interest is earned on cash. (6) Dividends grow at an 8% rate. 12 (6) Calculate the additional funds needed (AFN). If new financing is required, assume it will be raised as notes 13 payable. Assume that any new notes payable will be borrowed on the last day of the year, so there will be no 14 additional interest expense for the new notes payable. If surplus funds are available, pay a special dividend. 15 16 a. What are the forecasted levels of notes payable and special dividends? 17 18 19 Key Input Data: Used in the 20 forecast 21 Tax rate 40% 22 Dividend growth rate 8% 23 S-TE 99% | 24 L-Tro 25 Sales Growth Rate 6% 26 December 31 Income Statements: 27 in thousands of dollars) 28 Forecasting 2012 2013 2013 29 2012 basis Ratios Inputs Forecast 30 Sales $455.150 Growth 6.00 $482,450 31 Expenses (excluding depr. & amort.) % of sales 85.000% 85,000% $410,090 32 EBITDA $68.273 $72,369 33 Depreciation and Amortization $14.565 % of fixed assets 8.000% 8.00% $15,436 34 EBIT $53.700 $56,930 MER 144 const whaninis Ch 09-10 Build a Model Solution Type here to search o Prisen 4 o W E R. FIN 432 modules Home Insert Draw Data View Help Page Layout Fom AA == Arial 10 Currency 1 Text Merge Center 3 $ -% 988 Condtional Format as Forming Table insert Online Tone Numb B D G Key Input Data: Used in the forecast 1 Tax rate 40% 2 Dividend growth rate 8% 3 S-T LITTO 5 Sales Crowth Rate 6 December 31 Income Statements: 7 in thousands of dollars) 8 Forecasting 2012 2013 9 2012 Ratios Inputs 30 Sales $455,150 Growth 6.00% 31 Expenses (excluding depr. & amort) $336,878 % of sales 85.000% 85.000% 12 EBITDA $68,273 33 Depreciation and Amortization $14,565 % of fixed assets 8.000% 8.00% 34 EBIT $53,700 35 Net Interest Expense $11,00 interest rate x beginning of year debt 36EBT $41,828 37 Taxes (40%) 516,731 38 Net Income 525,097 39 Common dividends (regular dividends) $12,554 Growth 8.00% 40 Special dividends 50 41 Addition to retained earnings (DRE) $12,543 43 44 45 December 31 Balance Sheets 46 in thousands of dollars) 47 Forecasting 2012 2013 48 2012 Ratios Inputs Without AFN 49 Assets 50 Cash $18,206 % of sales 4.000% 6.000% 519.298 51 Accounts Receivable $100.133 % of sales 22.000 6.000% $105,141 52 Inventories 545,515 % of sales 10.000% 6.000% 548.246 Ch 09-10 Build a Model Solution 2013 Forecast $452.450 $410,090 $72,369 $15.439 $56.930 SO $56.30 522.772 $34,158 $13,558 SO $20.600 F 2013 AFN With AFN $19.298 $100,11 $40.246 Type here to search o EH 6 W E R. Auto FIN 432 modules DS F Home Insert Draw Page Layout Formula Data Review View Help 10 - ' ' Wrap Test Merge Center Currency $ - % *** Conditional Formatan Coll Format ng The Styles Air f D G 50 0 Special dividends 41 Addition to retained earnings (DRE) 42 H 50 $20.500 $12.50 2012 Ratios 2013 Inputs 2013 AFN Without AFN With AFN 4.000% 22.000% 10.000% 40.000 6.000% 6.000% 6,000% 519,298 $106,141 548,246 5173,685 $1924 5366,669 519,290 5106,141 $48.246 5173,685 $192.984 $366,669 6.000% 7.000% 6.000 6.000% 6.000 533.772 528.34 45 December 31 Balance Sheets 46 (in thousands of dollars) 47 Forecasting 48 2012 basis 49 Assets 50 Cash $18,206 of sales 51 Accounts Receivable $100,133 % of sales 52 Inventories $45,515 % of sales 53 Total current assets $163854 54 Fixed assets 5182.060 % of sales 55 Total assets $345.914 57 Liabilities and equity 58 Accounts payable $31,861 % of sales 59 Accruals $27,309 % of sales 60 Notes payable 50 Previous 61 Total current liabilities $59,170 52 Long-term debt $120,000 Previous 63 Total liabilities $179,170 64 Common stock 560,000 Previous 65 Retained Earnings 5106,745 Previous ARE 66 Total common equity $164,745 67 Total liabilities and equity $345.914 68 50.000 69 Total assets 70 Planned liabilities and equity 71 Additional funds needed (AFN) 72 73 Required additional notes payable * Cracislande Ch 09-10 Build a Model Solution $33.772 528.948 SO Type here to search O Patson Home % FIN 432 module Page Layout Formu FE D Delete format D F 55 Total 33. 7.000 6.000 8.000 6.000 535772 58 Accounts payable 59 Accruals CD Notes payable 61 Total current 52 Long-term de 63 Totalles 4 Common stock 65 Retained Earnings 6 Totalcommon equity ET Total abilities and equity 531,361 of 527309 of sales 30 Previous 558,170 $120.000 Previous 5173, 170 380.000 Previous $106,765 Previous ARE $166.745 5345 Totalasses 70 Planned liabilities and equity 11 Additional tundis needed AFN 73 Required additional notes payable 14 Special dividends 75 77 a. What are the forecasted levels of notes payable and special dividends? 79 Requiredionales payable Nole: we copied values from one when a growth in 30% Special dividends 81 b. Now assume that the growth in sales is only. What are the forecasted levels of notes payable and special 33 dividend Not we copied austrom 03.074 when sales growth in 30 5 Required additional notes payable 50 Special dividends 37 Ch 0510 Hulda Model Solution Type here to search O 90 5 4 6 E R. AutoSave CH FIN 432 module 9 ss Search File Home Home Insert Draw Page Layout Formulas Data Review View Help A A 23 Wing Tin $% 98 Condtonal Format Clipboard Font Alignment Number Styles SUM = A B D E F H 2/1/2012 Module 09. Student Ch 09-10 Build a Model 1 2 3 4 5 6 7 Zieber Corporation's 2012 financial statements are shown below. Forecast Zeiber's 2013 income statement and 8 balance sheets. Use the following assumptions: (1) Sales grow by 6%. (2) The ratios of expenses to sales, 9 depreciation to fixed assets, cash to sales, accounts receivable to sales, and inventories to sales will be the same 10 in 2013 as in 2012. (3) Zeiber will not issue any new stock or new long-term bonds. (4) The interest rate is 9% for 11 short-term debt and 11% for long-term debt. (5) No interest is earned on cash. (6) Dividends grow at an 8% rate. 12 (6) Calculate the additional funds needed (AFN). If new financing is required, assume it will be raised as notes 13 payable. Assume that any new notes payable will be borrowed on the last day of the year, so there will be no 14 additional interest expense for the new notes payable. If surplus funds are available, pay a special dividend. 15 16 a. What are the forecasted levels of notes payable and special dividends? 17 18 19 Key Input Data: Used in the 20 forecast 21 Tax rate 40% 22 Dividend growth rate 8% 23 S-TT 9% 24 L-Trg 11% 25 Sales Growth Rate 6% 26 December 31 Income Statements: 27 (in thousands of dollars) 28 Forecasting 2012 2013 2013 29 2012 basis Ratios Inputs Forecast 30 Sales $455,150 Growth 6.00% $482,459 31 Expenses (excluding depr. & amort.) $386,878 % of sales 85.000% 85.000% $410,090 32 EBITDA $68,273 $72,369 33 Depreciation and Amortization $14,565 % of fixed assets 8.000% 8.00% $15,439 34 EBIT $53,708 $56,930 25 Aint Inter.EUROPA 044 000 Internate whaninin ANAREA Ch 09-10 Build a Model Solution eo For AutoSave FIN 432 module_95 o search File Home Insert Draw Data Review View Help Page Layout Formulas == A a Canter $ % Alignment Nurse soyles H SUM fo B F G 25 Sales Growth Rate 6% 26 December 31 Income Statements: 27 (in thousands of dollars) 28 Forecasting 2012 2013 29 2012 basis Ratios Inputs 30 Sales $455, 150 Growth 6.00% 31 Expenses (excluding depr. & amort.) $386,878 % of sales 85.000% 85.000% 32 EBITDA $68,273 33 Depreciation and Amortization $14,565 % of fixed assets 8.000% 8.00% 34 EBIT $53,708 35 Net Interest Expense $11,880 Interest rate x beginning of year debt 36 EBT $41,828 37 Taxes (40%) $16,731 38 Net Income $25,097 39 Common dividends (regular dividends) $12,554 Growth 8.00% 40 Special dividends $0 41 Addition to retained earnings (DRE) $12,543 42 43 44 45 December 31 Balance Sheets 46 (in thousands of dollars) 47 Forecasting 2012 2013 48 2012 basis Ratios Inputs Without AFN 49 Assets: 50 Cash $18,206 % of sales 4.000% 6.000% $19.298 51 Accounts Receivable $100.133 % of sales 22.000% 6.000% $106.141 52 Inventories $45,515 % of sales 10.000% 6.000% $48.246 53 Total current assets $163,854 5173,685 54 Fixed assets $182,060 % of sales 40.000% 6.000 $192,984 55 Total assets $345,914 $366.669 56 57 Liabilities and equity 58 Accounts payable $31.861 % of sales 7.000% 6.000% $33.772 697 ungene 6 ANAL RO Ch 09-10 Build a Model Solution C01 2013 Forecast 5482,459 $410,090 $72 369 515,439 556,930 $0 $56,930 $22.772 $34.158 $13.558 50 $20,600 2013 AFN With AFN $19.298 $106,141 $48,246 $173,685 $192.984 5366,669 $33,772 Type here to search o AutoSave 0 pe FIN 432 module, 50 55 Search File Home Insett Draw Page Layout Formulas Data Review View Help AA EEE Marge Center $ - % Font Alignment Number SUM F H Without AFN 2013 AFN With AFN 2013 Inputs 6.000% 6.000% 6.000% $19,298 $106,141 $48,246 $173,685 $192,984 $366,669 $19,298 $106.141 $48.246 $173,685 5192,984 $366,669 6.000% B C E 43 44 45 December 31 Balance Sheets 46 (in thousands of dollars) 47 Forecasting 2012 48 2012 basis Ratios 49 Assets 50 Cash $18,206% of sales 4.000% 51 Accounts Receivable $100,133 % of sales 22.000% 52 Inventories $45,515 % of sales 10.000% 53 Total current assets $163,854 54 Fixed assets $182,060 % of sales 40.000% 55 Total assets $345.914 56 57 Liabilities and equity 58 Accounts payable $31,861 % of sales 7.000% 59 Accruals $27,309 % of sales 6.000% 60 Notes payable SO Previous 61 Total current liabilities $59,170 62 Long-term debt $120,000 Previous 63 Total liabilities $179,170 64 Common stock $60,000 Previous 65 Retained Earnings $106,745 Previous + ARE 66 Total common equity $166,745 67 Total liabilities and equity $345,914 68 $0.000 89 Total assets 70 Planned liabilities and equity - 71 Additional funds needed (AFN) = 72 73 Required additional notes payable = 74 Special dividends 75 76 77 * What are the interacter lavale nf notes navable and social dividends? Ch 09-10 Build a Model Solution 6.000% 6.000% $33,772 $28,948 $33,772 $28.948 SO SO SO Home Insert Poe Layo Form Ver AAD SUM A B 04 Common stock 560,000 Previous 05 Retained Earnings 1106,745 Previous + ARE Total common equity 5166,745 67 Total abilities and equity $345.914 18 50.000 0 Total assets 70 Planned liabilities and equity Y Additional funds needed (AFN) 30 72 73 Required additional notes payable 50 74 Special dividends 50 75 To What are the forecasted levels of notes payable and special dividende? 10 70 Required additional notes payable Note: we copied values from 073011 when sales growth in 30% 00 pecul dividende 11 Now sume that the growth in sales is only %. What are the forecasted levels of not payable and special dividends? Required additional notes payable Note: we copiedalies from on 04 when als growth in 0.03% 16 Special dividends M 93 00 00 Ch 09-10 Buda Model Solution Home Insert Dw Page Layout Formulas Data Review View Help - 10 23 Wrap Text A E Merge & Center Currency $ % 9.2 BIU Conditional Formatas Cell Formatting Table Styles Number 661 B D H 2/1/2012 Module 09. Student Ch 09-10 Build a Model 6 7 Zieber Corporation's 2012 financial statements are shown below. Forecast Zeiber's 2013 income statement and 8 balance sheets. Use the following assumptions: (1) Sales grow by 6%. (2) The ratios of expenses to sales, 9 depreciation to feed assets, cash to sales, accounts receivable to sales, and inventories to sales will be the same 10 in 2013 as in 2012 (3) Zeiber will not issue any new stock or new long-term bonds. (4) The interest rate is 9% for 11 short-term debt and 11% for long-term debt. (5) No interest is earned on cash. (6) Dividends grow at an 8% rate. 12 (6) Calculate the additional funds needed (AFN). If new financing is required, assume it will be raised as notes 13 payable. Assume that any new notes payable will be borrowed on the last day of the year, so there will be no 14 additional interest expense for the new notes payable. If surplus funds are available, pay a special dividend. 15 16 a. What are the forecasted levels of notes payable and special dividends? 17 18 19 Key Input Data: Used in the 20 forecast 21 Tax rate 40% 22 Dividend growth rate 8% 23 S-TE 99% | 24 L-Tro 25 Sales Growth Rate 6% 26 December 31 Income Statements: 27 in thousands of dollars) 28 Forecasting 2012 2013 2013 29 2012 basis Ratios Inputs Forecast 30 Sales $455.150 Growth 6.00 $482,450 31 Expenses (excluding depr. & amort.) % of sales 85.000% 85,000% $410,090 32 EBITDA $68.273 $72,369 33 Depreciation and Amortization $14.565 % of fixed assets 8.000% 8.00% $15,436 34 EBIT $53.700 $56,930 MER 144 const whaninis Ch 09-10 Build a Model Solution Type here to search o Prisen 4 o W E R. FIN 432 modules Home Insert Draw Data View Help Page Layout Fom AA == Arial 10 Currency 1 Text Merge Center 3 $ -% 988 Condtional Format as Forming Table insert Online Tone Numb B D G Key Input Data: Used in the forecast 1 Tax rate 40% 2 Dividend growth rate 8% 3 S-T LITTO 5 Sales Crowth Rate 6 December 31 Income Statements: 7 in thousands of dollars) 8 Forecasting 2012 2013 9 2012 Ratios Inputs 30 Sales $455,150 Growth 6.00% 31 Expenses (excluding depr. & amort) $336,878 % of sales 85.000% 85.000% 12 EBITDA $68,273 33 Depreciation and Amortization $14,565 % of fixed assets 8.000% 8.00% 34 EBIT $53,700 35 Net Interest Expense $11,00 interest rate x beginning of year debt 36EBT $41,828 37 Taxes (40%) 516,731 38 Net Income 525,097 39 Common dividends (regular dividends) $12,554 Growth 8.00% 40 Special dividends 50 41 Addition to retained earnings (DRE) $12,543 43 44 45 December 31 Balance Sheets 46 in thousands of dollars) 47 Forecasting 2012 2013 48 2012 Ratios Inputs Without AFN 49 Assets 50 Cash $18,206 % of sales 4.000% 6.000% 519.298 51 Accounts Receivable $100.133 % of sales 22.000 6.000% $105,141 52 Inventories 545,515 % of sales 10.000% 6.000% 548.246 Ch 09-10 Build a Model Solution 2013 Forecast $452.450 $410,090 $72,369 $15.439 $56.930 SO $56.30 522.772 $34,158 $13,558 SO $20.600 F 2013 AFN With AFN $19.298 $100,11 $40.246 Type here to search o EH 6 W E R. Auto FIN 432 modules DS F Home Insert Draw Page Layout Formula Data Review View Help 10 - ' ' Wrap Test Merge Center Currency $ - % *** Conditional Formatan Coll Format ng The Styles Air f D G 50 0 Special dividends 41 Addition to retained earnings (DRE) 42 H 50 $20.500 $12.50 2012 Ratios 2013 Inputs 2013 AFN Without AFN With AFN 4.000% 22.000% 10.000% 40.000 6.000% 6.000% 6,000% 519,298 $106,141 548,246 5173,685 $1924 5366,669 519,290 5106,141 $48.246 5173,685 $192.984 $366,669 6.000% 7.000% 6.000 6.000% 6.000 533.772 528.34 45 December 31 Balance Sheets 46 (in thousands of dollars) 47 Forecasting 48 2012 basis 49 Assets 50 Cash $18,206 of sales 51 Accounts Receivable $100,133 % of sales 52 Inventories $45,515 % of sales 53 Total current assets $163854 54 Fixed assets 5182.060 % of sales 55 Total assets $345.914 57 Liabilities and equity 58 Accounts payable $31,861 % of sales 59 Accruals $27,309 % of sales 60 Notes payable 50 Previous 61 Total current liabilities $59,170 52 Long-term debt $120,000 Previous 63 Total liabilities $179,170 64 Common stock 560,000 Previous 65 Retained Earnings 5106,745 Previous ARE 66 Total common equity $164,745 67 Total liabilities and equity $345.914 68 50.000 69 Total assets 70 Planned liabilities and equity 71 Additional funds needed (AFN) 72 73 Required additional notes payable * Cracislande Ch 09-10 Build a Model Solution $33.772 528.948 SO Type here to search O Patson Home % FIN 432 module Page Layout Formu FE D Delete format D F 55 Total 33. 7.000 6.000 8.000 6.000 535772 58 Accounts payable 59 Accruals CD Notes payable 61 Total current 52 Long-term de 63 Totalles 4 Common stock 65 Retained Earnings 6 Totalcommon equity ET Total abilities and equity 531,361 of 527309 of sales 30 Previous 558,170 $120.000 Previous 5173, 170 380.000 Previous $106,765 Previous ARE $166.745 5345 Totalasses 70 Planned liabilities and equity 11 Additional tundis needed AFN 73 Required additional notes payable 14 Special dividends 75 77 a. What are the forecasted levels of notes payable and special dividends? 79 Requiredionales payable Nole: we copied values from one when a growth in 30% Special dividends 81 b. Now assume that the growth in sales is only. What are the forecasted levels of notes payable and special 33 dividend Not we copied austrom 03.074 when sales growth in 30 5 Required additional notes payable 50 Special dividends 37 Ch 0510 Hulda Model Solution Type here to search O 90 5 4 6 E R. AutoSave CH FIN 432 module 9 ss Search File Home Home Insert Draw Page Layout Formulas Data Review View Help A A 23 Wing Tin $% 98 Condtonal Format Clipboard Font Alignment Number Styles SUM = A B D E F H 2/1/2012 Module 09. Student Ch 09-10 Build a Model 1 2 3 4 5 6 7 Zieber Corporation's 2012 financial statements are shown below. Forecast Zeiber's 2013 income statement and 8 balance sheets. Use the following assumptions: (1) Sales grow by 6%. (2) The ratios of expenses to sales, 9 depreciation to fixed assets, cash to sales, accounts receivable to sales, and inventories to sales will be the same 10 in 2013 as in 2012. (3) Zeiber will not issue any new stock or new long-term bonds. (4) The interest rate is 9% for 11 short-term debt and 11% for long-term debt. (5) No interest is earned on cash. (6) Dividends grow at an 8% rate. 12 (6) Calculate the additional funds needed (AFN). If new financing is required, assume it will be raised as notes 13 payable. Assume that any new notes payable will be borrowed on the last day of the year, so there will be no 14 additional interest expense for the new notes payable. If surplus funds are available, pay a special dividend. 15 16 a. What are the forecasted levels of notes payable and special dividends? 17 18 19 Key Input Data: Used in the 20 forecast 21 Tax rate 40% 22 Dividend growth rate 8% 23 S-TT 9% 24 L-Trg 11% 25 Sales Growth Rate 6% 26 December 31 Income Statements: 27 (in thousands of dollars) 28 Forecasting 2012 2013 2013 29 2012 basis Ratios Inputs Forecast 30 Sales $455,150 Growth 6.00% $482,459 31 Expenses (excluding depr. & amort.) $386,878 % of sales 85.000% 85.000% $410,090 32 EBITDA $68,273 $72,369 33 Depreciation and Amortization $14,565 % of fixed assets 8.000% 8.00% $15,439 34 EBIT $53,708 $56,930 25 Aint Inter.EUROPA 044 000 Internate whaninin ANAREA Ch 09-10 Build a Model Solution eo For AutoSave FIN 432 module_95 o search File Home Insert Draw Data Review View Help Page Layout Formulas == A a Canter $ % Alignment Nurse soyles H SUM fo B F G 25 Sales Growth Rate 6% 26 December 31 Income Statements: 27 (in thousands of dollars) 28 Forecasting 2012 2013 29 2012 basis Ratios Inputs 30 Sales $455, 150 Growth 6.00% 31 Expenses (excluding depr. & amort.) $386,878 % of sales 85.000% 85.000% 32 EBITDA $68,273 33 Depreciation and Amortization $14,565 % of fixed assets 8.000% 8.00% 34 EBIT $53,708 35 Net Interest Expense $11,880 Interest rate x beginning of year debt 36 EBT $41,828 37 Taxes (40%) $16,731 38 Net Income $25,097 39 Common dividends (regular dividends) $12,554 Growth 8.00% 40 Special dividends $0 41 Addition to retained earnings (DRE) $12,543 42 43 44 45 December 31 Balance Sheets 46 (in thousands of dollars) 47 Forecasting 2012 2013 48 2012 basis Ratios Inputs Without AFN 49 Assets: 50 Cash $18,206 % of sales 4.000% 6.000% $19.298 51 Accounts Receivable $100.133 % of sales 22.000% 6.000% $106.141 52 Inventories $45,515 % of sales 10.000% 6.000% $48.246 53 Total current assets $163,854 5173,685 54 Fixed assets $182,060 % of sales 40.000% 6.000 $192,984 55 Total assets $345,914 $366.669 56 57 Liabilities and equity 58 Accounts payable $31.861 % of sales 7.000% 6.000% $33.772 697 ungene 6 ANAL RO Ch 09-10 Build a Model Solution C01 2013 Forecast 5482,459 $410,090 $72 369 515,439 556,930 $0 $56,930 $22.772 $34.158 $13.558 50 $20,600 2013 AFN With AFN $19.298 $106,141 $48,246 $173,685 $192.984 5366,669 $33,772 Type here to search o AutoSave 0 pe FIN 432 module, 50 55 Search File Home Insett Draw Page Layout Formulas Data Review View Help AA EEE Marge Center $ - % Font Alignment Number SUM F H Without AFN 2013 AFN With AFN 2013 Inputs 6.000% 6.000% 6.000% $19,298 $106,141 $48,246 $173,685 $192,984 $366,669 $19,298 $106.141 $48.246 $173,685 5192,984 $366,669 6.000% B C E 43 44 45 December 31 Balance Sheets 46 (in thousands of dollars) 47 Forecasting 2012 48 2012 basis Ratios 49 Assets 50 Cash $18,206% of sales 4.000% 51 Accounts Receivable $100,133 % of sales 22.000% 52 Inventories $45,515 % of sales 10.000% 53 Total current assets $163,854 54 Fixed assets $182,060 % of sales 40.000% 55 Total assets $345.914 56 57 Liabilities and equity 58 Accounts payable $31,861 % of sales 7.000% 59 Accruals $27,309 % of sales 6.000% 60 Notes payable SO Previous 61 Total current liabilities $59,170 62 Long-term debt $120,000 Previous 63 Total liabilities $179,170 64 Common stock $60,000 Previous 65 Retained Earnings $106,745 Previous + ARE 66 Total common equity $166,745 67 Total liabilities and equity $345,914 68 $0.000 89 Total assets 70 Planned liabilities and equity - 71 Additional funds needed (AFN) = 72 73 Required additional notes payable = 74 Special dividends 75 76 77 * What are the interacter lavale nf notes navable and social dividends? Ch 09-10 Build a Model Solution 6.000% 6.000% $33,772 $28,948 $33,772 $28.948 SO SO SO Home Insert Poe Layo Form Ver AAD SUM A B 04 Common stock 560,000 Previous 05 Retained Earnings 1106,745 Previous + ARE Total common equity 5166,745 67 Total abilities and equity $345.914 18 50.000 0 Total assets 70 Planned liabilities and equity Y Additional funds needed (AFN) 30 72 73 Required additional notes payable 50 74 Special dividends 50 75 To What are the forecasted levels of notes payable and special dividende? 10 70 Required additional notes payable Note: we copied values from 073011 when sales growth in 30% 00 pecul dividende 11 Now sume that the growth in sales is only %. What are the forecasted levels of not payable and special dividends? Required additional notes payable Note: we copiedalies from on 04 when als growth in 0.03% 16 Special dividends M 93 00 00 Ch 09-10 Buda Model Solution