x 3.3 Midlap Quic week Attempts: Score: / 17 3. Problem 23-04 LU Problem 23-04 BBP, Inc., with sales of $600,000, has the following balance sheet: BBP, Incorporated Balance Sheet as of 12/31/XO Assets Llabilities and Equity Cash $ 30,000 Accounts payable $ 24,000 Accounts receivable 66,000 Accruals 30,000 Inventory 90,000 Notes payable 35,000 Current assets 186,000 Current liabilities 89,000 Fixed assets 170,000 Common stock 70,000 Retained earnings 197,000 Total assets $356,000 Total liabilities and equity $356,000 The firm eams 17 percent on sales and distributes 30 percent of its earnings. Using the percent of sales, determine whether the firm will need external funds and forecast the new balance sheet for sales of $780,000 assuming that cash changes with sales and that the firm is not operating at capacity. Use newly Issued short-term debt to cover any needs for additional finance. If the firm has excess funds, add them to cash. Round your answers to the nearest dollar. Enter your answers as positive values ? The firm Select funds of BBP, Incorporated Balance Sheet as of 12/31/X1 AN 5:43 DALL BBP, Incorporated Balance Sheet as of 12/31/X1 Assets Llabilities and Equity Cash Accounts payable $ Accounts receivable Accruals Inventory Notes payable Current assets Current liabilities Fixed assets Common stock Retained earnings Total assets Total liabilities and equity Would your answers be different if the firm distributed all of its earnings? Round your answers to the nearest dollar. Enter your answer as a positive value. If management distributed all the firm's earnings, it-Select- funds of AL Save & Continue Continue without saving 5:43 DII o x 3.3 Midlap Quic week Attempts: Score: / 17 3. Problem 23-04 LU Problem 23-04 BBP, Inc., with sales of $600,000, has the following balance sheet: BBP, Incorporated Balance Sheet as of 12/31/XO Assets Llabilities and Equity Cash $ 30,000 Accounts payable $ 24,000 Accounts receivable 66,000 Accruals 30,000 Inventory 90,000 Notes payable 35,000 Current assets 186,000 Current liabilities 89,000 Fixed assets 170,000 Common stock 70,000 Retained earnings 197,000 Total assets $356,000 Total liabilities and equity $356,000 The firm eams 17 percent on sales and distributes 30 percent of its earnings. Using the percent of sales, determine whether the firm will need external funds and forecast the new balance sheet for sales of $780,000 assuming that cash changes with sales and that the firm is not operating at capacity. Use newly Issued short-term debt to cover any needs for additional finance. If the firm has excess funds, add them to cash. Round your answers to the nearest dollar. Enter your answers as positive values ? The firm Select funds of BBP, Incorporated Balance Sheet as of 12/31/X1 AN 5:43 DALL BBP, Incorporated Balance Sheet as of 12/31/X1 Assets Llabilities and Equity Cash Accounts payable $ Accounts receivable Accruals Inventory Notes payable Current assets Current liabilities Fixed assets Common stock Retained earnings Total assets Total liabilities and equity Would your answers be different if the firm distributed all of its earnings? Round your answers to the nearest dollar. Enter your answer as a positive value. If management distributed all the firm's earnings, it-Select- funds of AL Save & Continue Continue without saving 5:43 DII o
