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what will be the firms total assets next year? please use excel and show formulas. (The following information is related to the next four questions.)

what will be the firms total assets next year? please use excel and 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 Other expenses 759,000 594,000 15,000 5 Farings before interest and tates Interest paid 150,000 16,000 Taxable income Taxes (30%) 134,000 40,200 Net income $ 93,800 Dividende Addition to retained carings $28,140 65,660 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 $ 71,200 $ $ 142,000 Total Fixed as Net plant and equipment 127,120 Long-term debt Owners oquity Common stock and paid- 363.000 in surplus Retained carings 5 $ 128.000 148,920 Total $ 276.920 Total assets $ 490.120 Total liabilities and were quity s 490,120 23. The firm is operating at its full capacity, and it will have to increase its fixed assets as it increase sits current assets. What will be the firm's total assets next year

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