Question
Please use the following projections for Top-A1 Inc.: Total sales of $150000 Cost of goods sold equal to 74.1 percent of sales Total expenses equal
Please use the following projections for Top-A1 Inc.:
Total sales of $150000
Cost of goods sold equal to 74.1 percent of sales
Total expenses equal to 13.5 percent of sales
Tax rate of 35 percent
Beginning equity of $51,500
Beginning inventory of $ 11,900
Age of ending inventory of 59 days
Minimum cash balance of $9,800
Accounts receivable of 30 days
Fixed assets of $63,400
Accounts payable of 35 days
Complete the pro-forma balance sheet below:(Round to the nearest dollar.)
Top-A1 Inc. Pro-Forma Balance Sheet | ||
Assets: |
|
|
Cash | $ |
|
Accounts receivable | $ |
|
Inventory | $ |
|
Fixed assets | $ |
|
Total assets | $ |
|
Liabilities: |
|
|
Accounts payable | $ |
|
Long-term debt | $ |
|
Total liabilities | $ |
|
Equity | $ |
|
Total liabilities and equity | $ |
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started