U 29 willige ' ' dische blail - W 9 % - - as by The Loftis Company is preparing its pro forma financial statements for the next year using this model. The abbreviated financial statements are presented below. Sales growth Tax rate Income Statement Sales Costs Depreciation Interest Taxable income $ Taxes Net income $ 780,000.00 415,000.00 135,000.00 68,000.00 162,000.00 55,080.00 105,920.00 $ 30,000.00 Dividends Additions to retained earnings 75,920.00 40 Balance Sheet Liabilities and Equity Assets Arrate e Section 3.1 Section 32 ... non Section 3.3 Section 3.4 Section 3.5 Master It! Solution 1 Type here to search 29 wib - w - AA- 28 9 % In this financial planning model, show that it is possible to solve algebraically for the amount of new borrowing $ Taxable income Taxes Net income 162.000.00 55,080.00 106,920.00 30,000.00 Dividends Additions to retained earnings $ 75,920.00 Assets Current assets Net fixed assets Total assets $ 240,000.00 1,350,000.00 S 1.590,000.00 Balance Sheet Liabities and Equity Total debt Owners' equity Total debt and equity 380,000.00 710,000.00 Calculate each of the parameters necessary to construct the proforma balance sheet. 50 b. Construct the pro forma balance sheet. What is the total debt necessary to balance the pro forma balance sheet? 5214 In this financial planning model show that it is possible to solve algebraically for the amount of new borrowing Section 3. Section 32 Section 3 S ection 34 Section 35 Master Solution E O Type here to search is in me hla 2 9 % - - D Cost percentage Depreciation percentage Interest rate Tax rate Payout ratio Fixed assets/Total assets Capital intensity ratio 28% de y --------- -- Construct the proforma financial statements using the parameters you calculated. Your pro forma balance sheet should balance ----- Loftis Company Pro forma Income Statement Sales Costs Depreciation Interest Taxable income Taxes Net Income - Section 3.1 Section 32 Section 33 Section 3 Section 35 Masterit Solution It Type here to search