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 | $ |
|
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