Use the Income Statement and Balance Sheet below along with forecast assumptions to build a forecast of the 2020 financial statements and the Additional Funding Needed.
Run the 2020 iterations until the balance sheet balances (this should be in four iterations)
Please provide me with the formulas!!!
Iterations 2020F 2019 2020F 2020F 2020F Income Statement 2019 2020 Assumptions Net Sales $ 8,250 9% Growth Cost of Goods Sold $ 6,600 75% of Sales Gross Profit $ 1,650 Expenses General, Selling, and Administrative Expenses $ 1,238 15% of Sales Net Interest Expenses $ 179 8% Interest Earnings Before Tax $ 233 Tax $ 82 25% Tax Earnings After Tax $ 152 Dividends $ 30 25% Dividend Payout Balance Sheet 2019 Assets Current Assets Cash and Securities $ 1,130 45 Days Sales Accounts Receivable $ 1,469 31 Day Collection Period Inventory $ 825 5 Times Turnover Prepaid Expenses $ 12 Hold at 2019 Level Total Current Assets $ 3,436 Net Fixed Assets $ 250 10 Depreciation Per Year Total Assets $ 3,686 Liabilities and Stockholders Equity Current Liabilities Bank Loan $ 1,732 Plug, Initally Zero Accounts Payable $ 940 25 Days Payable CMLTD $ 10 LTD Amortizing at 10 Per Year Accrued Wages $ 4 Hold at 2019 Level Total Current Liabilities $ 2,686 Long-Term Debt $ 500 LTD Amortizing at 10 Per Year Common Stock $ 100 Hold at 2019 Level Retained Earnings $ 400 Total Liabilites and Stockholders Equity $ 3,686 Iterations 2020F 2019 2020F 2020F 2020F Income Statement 2019 2020 Assumptions Net Sales $ 8,250 9% Growth Cost of Goods Sold $ 6,600 75% of Sales Gross Profit $ 1,650 Expenses General, Selling, and Administrative Expenses $ 1,238 15% of Sales Net Interest Expenses $ 179 8% Interest Earnings Before Tax $ 233 Tax $ 82 25% Tax Earnings After Tax $ 152 Dividends $ 30 25% Dividend Payout Balance Sheet 2019 Assets Current Assets Cash and Securities $ 1,130 45 Days Sales Accounts Receivable $ 1,469 31 Day Collection Period Inventory $ 825 5 Times Turnover Prepaid Expenses $ 12 Hold at 2019 Level Total Current Assets $ 3,436 Net Fixed Assets $ 250 10 Depreciation Per Year Total Assets $ 3,686 Liabilities and Stockholders Equity Current Liabilities Bank Loan $ 1,732 Plug, Initally Zero Accounts Payable $ 940 25 Days Payable CMLTD $ 10 LTD Amortizing at 10 Per Year Accrued Wages $ 4 Hold at 2019 Level Total Current Liabilities $ 2,686 Long-Term Debt $ 500 LTD Amortizing at 10 Per Year Common Stock $ 100 Hold at 2019 Level Retained Earnings $ 400 Total Liabilites and Stockholders Equity $ 3,686
