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CAMDEN COMPANY $ 125,000 40% 60% 8% 100% 60% Part a. October sales Sales in cash Sales on credit Expected sales growth per month Part b. Accounts receivable collected in month following sales Part c. Cost of goods sold as percentage of sales Ending inventory - percent of next month's cost of goods sold December estimated ending inventory Part d. Accounts payable paid in month of purchase Accounts payable paid in month following purchase Parte. Salary expense (fixed) Sales commissions (percent of sales) Supplies expense (percent of sales) Utilities (fixed) Depreciation on store fixtures (fixed) Rent (fixed) Miscellaneous (fixed) $ 10% 6,000 70% 30% 9,000 5% 2% 700 2,000 2,400 600 82,000 10.000 Cost of store fixtures Salvage value - store fixtures Useful life (years) - store fixtures Part g. Borrowing increments Monthly interest rate Cash cushion $ 1,000 1% 6,000 $ CAMDEN COMPANY October November December Pro Forma a. Sales Budget Cash sales Sales on account Total budgeted sales October November December Pro Forma Schedule of Cash Receipts Current cash sales Plus collections from A/R Total collections c. Inventory Purchases Budget Pro Forma Data October November December Budgeted cost of goods sold Plus: Desired ending inventory Inventory needed Less: Beginning inventory Required purchases (on account) 60 NOU 8 d. Schedule of Cash Payments Budget for Inventory Purchases October November December Pro Forma Data 31 32 Payment of current month's accounts payable Payment for prior month's accounts payable Total budgeted payments for inventory 33 34 35 Pro Forma Data 38 November December 40 36 e. Selling and Administrative Expense Budget 37 October 39 Salary expense Sales commissions 41 Supplies expense 42 Utilities Depreciation on store fixtures 44 Rent 45 Miscellaneous 43 d. Schedule of Cash Payments Budget for Inventory Purchases October Pro Forma Data November December December Payment of current month's accounts payabl Payment for prior month's accounts payable Total budgeted payments for inventory e. Selling and Administrative Expense Budget Pro Forma Data October November December Salary expense Sales commissions Supplies expense Utilities Depreciation on store fixtures Rent Miscellaneous Total S&A expenses f. Schedule of Cash Payments for S&A Expenses Pro Forma October November December Data T Salary expense Prior month sales commissions Supplies expense Prior month utilities Depreciation on store fixtures Rent Miscellaneous Total payments for S&A expenses CC O 2 g. Cash Budget Pro Forma Data October November December 54 Beginning cash balance Add cash receipts Cash available Less payments For inventory purchases For S&A expenses Purchase of store fixtures Interest expense Total budgeted payments g. Cash Budget Pro Forma Data October November December Beginning cash balance Add cash receipts Cash available Less payments For inventory purchases For S&A expenses Purchase of store fixtures Interest expense Total budgeted payments Payment minus receipts Surplus (shortage) Financing activity Borrowing (repayment) Ending cash balance ON CAMDEN COMPANY Pro Forma Income Statement For the Quarter Ended December 31, Year 1 35 36 87 88 89 90 Sales revenue Cost of goods sold Gross margin S&A expenses Operating income Interest expense Net income 91 92 93 i. CAMDEN COMPANY Pro Forma Balance Sheet December 31, Year 1 96 Assets Cash Accounts receivable Inventory Store fixtures Accumulated depreciation Book value of fixtures Total assets CAMDEN COMPANY Pro Forma Balance Sheet December 31, Year 1 Assets Cash Accounts receivable Inventory Store fixtures Accumulated depreciation Book value of fixtures Total assets Liabilities Accounts payable Utilities payable Sales commissions payable Line of credit liability Equity Retained earnings Total liabilities and equity CAMDEN COMPANY Pro Forma Statement of Cash Flows For the Quarter Ended December 31, Year 1 Cash flows from operating activities Cash receipts from customers Cash payments for inventory Cash payments for S&A expenses Cash payments for interest expense Net cash flows from operating activities 25 Cash flows from investing activities Cash payment for store fixtures 30 31 32 Cash flows from financing activities Net inflow from line of credit Net increase in cash Plus: Beginning cash balance Ending cash balance 33 34 35 136