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PRO FORMA BALANCE SHEET Use the following industry average ratios to construct a pro forma balance sheet for Phoebe's Cat Foods Inc. DATA Total asset
PRO FORMA BALANCE SHEET Use the following industry average ratios to construct a pro forma balance sheet for Phoebe's Cat Foods Inc. DATA Total asset turnover Average collection period (assume 365 day Fixed asset turnover Inventory turnover (based on cost of goods Current ratio Sales (all on c Cost of goods sold Debt ratio 5 times 15.0 days 5.0 times 3.0 times 2.0 times $3,000,000 75% of sales SOLUTION Cash Accounts receivable Inventories Net fixed assets Total assets Current liabilities Long.term deh Total liabilities Common equity Total liabilities and common Requirements: . Start Excel. Doanload and open the workbook named: Keown Martin_Petty_Problem 14-5 Start Important note All calculations must be shown using cell references. Do NOT enter numerical valaes in the cells 2. In cell B18, calculate the accounts receivable amount Assume a 365 day year. (1 point) In cell B19, calculate the inventories amount. (1 point) 4. In cell B20, calculate the ret fived assets. (1 5. In cell B21, calculate the total assets (1 point) 6. In cell B17, calculate the cash amount. (1 point) . In cell B23, calculate the current liabalities. (1 8. In cell B25, calculate the total abiliies.(1 point) 9. In cell B24, calculate the long-term debt (1 point) 10. In cell B27, calculate the total Eabilities and common equity. (1 11. In cell B26, calculate the common equity. (1 point) Save the workbook. Close the workbook and then exit Excel Submit the workbook as directed
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