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Question 9 a. Prepare a cash disbursement schedule for the months of April, May and June 2019 for Mario Brothers, Inc. based on the following
Question 9 a. Prepare a cash disbursement schedule for the months of April, May and June 2019 for Mario Brothers, Inc. based on the following information: Sales: February = $500,000; March = $500,000; April = $560,000; May = $610,000; June = $650,000; July = $650,000 b. Purchases are calculated as 60% of the next month's sales, 10% of purchases are made in cash, 50% of purchases are paid for 1 month after purchase, and the remaining 40% of purchases are paid for 2 months after purchase. The firm pays rent of $8,000 per month. d. Base wage and salary costs are fixed at $6,000 per month plus a variable cost of 7% of the current month's sales. A tax payment of $54,500 is due in June f. New equipment costing $75,000 will be bought and paid for in April An interest payment of $30,000 is due in June h. Dividends of $12,500 will be paid in April i. No principal repayments or retirements are due during these months C. e. Question 10 C. Prepare a 2013 proforma balance sheet for Blue Mango Inc. based on the 2012 balance sheet and the conditions below. Indicate the amount, if any, of external financing that Blue Mango will need for 2013. a. The company expects sales of $3 million for 2013 b. The company wants to maintain a minimum cash balance of $50,000. A new machine that costs $90,000 will be purchased during 2013 and total depreciation for the year will be $32,000 d. Marketable securities are expected to remain Leonard Industries Balance Sheet December 31, 2012 the same. Assets Liabilities and Stockholders' Equity Accounts receivable represent 10% of sales. Cash 45,000 Accounts payable $ 395,000 f. Inventories represent 12% of sales. Marketable securities 15,000 Accruals 60,000 Accounts payable represent 14% of sales. Accounts receivable 255,000 Other current liabilities 30,000 Inventories 340.000 Total current liabilities $ 485,000 h. Accruals, other current liabilities, long-term Total current assets S 655,000 Long-term debt 350,000 debt and common stock are expected to Net fixed assets 600.000 Total liabilities $ $35,000 remain the same Total assets $1,255,000 Common stock 200,000 Retained earnings i. Net profit margin is 4%. Total liabilities and j. The firm expects to pay out $70,000 in stockholders' equity $1,255,000 cash dividends during 2013. S aj bo s 220,000
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