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Points: 10 In 2014. MGM Corporation had sales of s500.000. For 2015. e company expects sales of $600,000. Below is the balance sheet as of
Points: 10 In 2014. MGM Corporation had sales of s500.000. For 2015. e company expects sales of $600,000. Below is the balance sheet as of 12/31/2014. at will be its forecasted working capital accounts (inventory, accounts receivable, and accounts payable) for 2015, if these accounts are the same percentage of sales in 2015 as in 2014? Assets As of 12/31/2014 Cash 7,500 Accounts receivable 11,520 Inventory 22,500 41,520 Total current assets 73,710 Property, plant, & equipment (PPE) 30,780 Accumulated depreciation 42,930 Net PPE Total assets As of 12/31/2014 Liabilities & equity 8.250 Accounts payable 12,300 Bank Loan (10%) Total current liabilities 16.800 Long-term debt (1236) Common stock Retained earnings Total liabilities 8 equity
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