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Please explain how to calculate net fixed assets. Clearly please :) Score: 0 of 1 pt 20of20(18 complete) HW Sce P4-17 (similar to) (1) A
Please explain how to calculate net fixed assets. Clearly please :) Score: 0 of 1 pt 20of20(18 complete) HW Sce P4-17 (similar to) (1) A minimum cash balance of $49,500 is desired. (2) Marketable securities are expected to remain unchanged. (3) Accounts receivable represent 9.9% of sales. (4) Inventories represent 12.1%0f sales (5) A new machine costing $89,500 wil be acquired during 2016. Total depreciation for the year will be $32,200 (6) Accounts payable represent 14.3% of sales (7) Accruais, other current liabilities, long-term debt, and common stock are expected to remain unchanged. (8) The firm's net proft margin is 4.3%, and it expects topay out S69.600 incash dividends during 2016. (9) The December 31, 2015,balance sheet folows a. Use the judgmental approach to prepare a pro forma balance sheet dated December 31, 2016, for Leonard Industries. b. How much, if any, additional financing will Lecnard Industries require in 2016? Disouss. c. Could Leonard Industries adjust its planned 2016 dividend to avoid the situation described in part b? Explain how Pro Forma Balance Sheet Leonard Industries December 31, 2016 Data Table Assets (Cick on the icon located on the top-right comer of the data table below in order to copy its contents into a spreadsheet.) Current assets Leonard Industries Balance Sheet December 31, 2015 Assets Cash Marketable securities Accounts receivable Liabilities and Stockholders Cash Marketable securiies Accounts receivable 49,500 $45,000 Accounts payable $394,800 59,900 30,500 $485,000 350,900 199,500 220,300 $1,255,700 14 14,900 Accruals Other ourrent liabilities 255,300 340.300 63 000 Total current labilites Total current assets $655,500 Long-term debt Net foxed assets600.200 Common stock Total cument assets Net fixed assets Total assets 724.400 Retained eamings Total assets $1,255,700 Total liabilities and stockholders' equity Print Done Enter any number in the edt fields and then click Check Answer Clear All
Please explain how to calculate net fixed assets. Clearly please :)
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