Please use excel. Please help me solve this balance sheet using excel formulas, and show them so I can understand. If directions are followed and answers correct, I will make sure to thumbs up. Thank you! 
Balance Sheets (December 31, in thousands of dollars) 2019 Preliminary forecast (doesn't 2018 Historical 67 2019 Final forecast (includes special dividend or LOC 2019 Input include specia 69 70 2018 ratios Forecasting basis ratios dividend or LOC) Assets Cash Accounts Receivable Inventories $18,206 $100,133 $45,515 $163,854 $182,060 $345,914 % of sales % of sales % of sales 72 73 74 75 76 Total current assets Fixed assets % of sales Total assets 78 79 80 81 82 8 Liabilities and equity Accounts payable Accruals Line of credit $31,861 $27,309 S0 $59.170 $120,000 $179,170 $60,000 % of sales % of sales Zero in preliminary forecast Total current liabilities 3Long-term debt 84 Previous Total liabilities Common stock Retained Earnings 85 Previous $106,745 Previous+Addition to retained earnings $166,745 $345,914 87 Total common equity Total liabilities and equi Start with the partial model in the file Ch09 P10 Build a Model.xlsx on the textbook's Web site, which contains the 2018 financial statements of Zieber Corporation. Forecast Zeiber's 2019 income statement and balance sheets. Use the following assumptions (1) Sales grow by 6%. (2) The ratios of expenses to sales, depreciation to fixed assets, cash to sales, accounts receivable to sales, and inventories to sales will be the same in 2019 as in 2018. (3) Zeiber will not issue any new stock or new long-term bonds. (4) The interest rate is 11% for long-term debt and the interest expense on long-term debt is based on the average balance during the year. (5) No interest is earned on cash. (6) Regular dividends grow at an 8% rate. (6) Calculate the additional funds needed (AFN). If new financing is required, assume it will be raised by drawing on a line of credit with an interest rate of 12%. Assume that any draw on the line of credit will be made on the last day of the year, so there will be no additional interest expense for the new line of credit. If surplus funds are available, pay a special dividend 9 Used in the forecast Key Input Data 40% 8% 9% 11% 12% 20 Tax rate Dividend growth rate Rate on notes payable-term debt, rstd Rate on long-term debt, rd Rate on line of credit, riOc 23 24 25 LOC Balance Sheets (December 31, in thousands of dollars) 2019 Preliminary forecast (doesn't 2018 Historical 67 2019 Final forecast (includes special dividend or LOC 2019 Input include specia 69 70 2018 ratios Forecasting basis ratios dividend or LOC) Assets Cash Accounts Receivable Inventories $18,206 $100,133 $45,515 $163,854 $182,060 $345,914 % of sales % of sales % of sales 72 73 74 75 76 Total current assets Fixed assets % of sales Total assets 78 79 80 81 82 8 Liabilities and equity Accounts payable Accruals Line of credit $31,861 $27,309 S0 $59.170 $120,000 $179,170 $60,000 % of sales % of sales Zero in preliminary forecast Total current liabilities 3Long-term debt 84 Previous Total liabilities Common stock Retained Earnings 85 Previous $106,745 Previous+Addition to retained earnings $166,745 $345,914 87 Total common equity Total liabilities and equi Start with the partial model in the file Ch09 P10 Build a Model.xlsx on the textbook's Web site, which contains the 2018 financial statements of Zieber Corporation. Forecast Zeiber's 2019 income statement and balance sheets. Use the following assumptions (1) Sales grow by 6%. (2) The ratios of expenses to sales, depreciation to fixed assets, cash to sales, accounts receivable to sales, and inventories to sales will be the same in 2019 as in 2018. (3) Zeiber will not issue any new stock or new long-term bonds. (4) The interest rate is 11% for long-term debt and the interest expense on long-term debt is based on the average balance during the year. (5) No interest is earned on cash. (6) Regular dividends grow at an 8% rate. (6) Calculate the additional funds needed (AFN). If new financing is required, assume it will be raised by drawing on a line of credit with an interest rate of 12%. Assume that any draw on the line of credit will be made on the last day of the year, so there will be no additional interest expense for the new line of credit. If surplus funds are available, pay a special dividend 9 Used in the forecast Key Input Data 40% 8% 9% 11% 12% 20 Tax rate Dividend growth rate Rate on notes payable-term debt, rstd Rate on long-term debt, rd Rate on line of credit, riOc 23 24 25 LOC
