Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The balance sheet for the Timegenic, Inc. for the year ending December 31, 2019 is shown below: Timegenic, Inc. Balance Sheet for the Year Ending

image text in transcribed
The balance sheet for the Timegenic, Inc. for the year ending December 31, 2019 is shown below: Timegenic, Inc. Balance Sheet for the Year Ending December 31, 2019 (All amounts are in dollars) Cash Accounts receivable Inventory Current assets Net fixed assets Total assets 250 800 2.750 3,800 6,200 10,000 Notes payable Accounts payable Accruals Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity 550 350 200 1,100 4,500 2,250 2.150 10,000 Timegonic, Inc. had sales revenue of $235,000 in 2019. Compute outside funds needed (OFN) for Timogenic, Inc. for 2020, assuming that sales are projected to grow by 46.0% in 2020, all current assets and all current liabilities (le, notes payable, accounts payable and accruals) will grow as a percent of sales, net fixed assets will grow at 80% of the growth rate in sales, the projected net profit margin for 2020 is 2.8%, and Timegenio, Inc. plans to pay a dividend in 2020 of $8,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Finance

Authors: Harvey S Rosen, Ted Gayer

9th International Edition

0071267883, 9780071267885

More Books

Students also viewed these Finance questions