Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

what is the additional funding requirement for the next year? please use excel to show formulas (The following information is related to the next four

what is the additional funding requirement for the next year? please use excel to show formulas image text in transcribed
(The following information is related to the next four questions.) The most recent financial statements for Fleury Inc., follow. Sales for next year are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets and accounts payable increase spontaneously with sales. FLEURY, INC Income Statement of Last Year Sales Costs 759,000 594,000 15,000 Other expenses Earnings before interest and taxes Interest paid $ 150,000 16,000 $ Taxable income Taxes (309) Net income 134,000 40,200 $ 93,800 Dividends Addition to retained camings $28,140 65,660 D FLEURY, INC Balance Sheet of Last Year Assets Liabilities and Owners' Equity Current assets Cash Accounts receivable Current liabilities 21,840 Accounts payable 34,160 Notes payable $ 56,000 15,200 Inventory 71.120 Total s 21,200 $ $ 142.000 Total Fixed assets Net plant and equipment $ 127.120 Long-term det Owners' equity Common stock and paid 363.000 in surplus Retained earnings S 128.000 148.920 Total S 276,920 Total assets 490,126 Total liabilities and owners' equity 5 490.120

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_2

Step: 3

blur-text-image_3

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

Financial Accounting Essentials You Always Wanted To Know Self Learning Management Series

Authors: Vibrant Publishers , Kalpesh Ashar

5th Edition

1636510973, 978-1636510972

More Books

Students also viewed these Finance questions

Question

Why do people resist strategic change?

Answered: 1 week ago

Question

Explain the process of biochemistry

Answered: 1 week ago