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Xiao Hui, Ltd. Balance Sheet for the Year Ending December 31, 2022 (All figures in dollars) 30. Assuming the following, compute Outside Funds Needed (OFN)
Xiao Hui, Ltd. Balance Sheet for the Year Ending December 31, 2022 (All figures in dollars) 30. Assuming the following, compute Outside Funds Needed (OFN) for Xiao Hui. Ltd. for 2023: - In 2022, Xiao Hui. Ltd. had sales of $800,000. Sales in 2023 are forecasted to be $900,000. - Xiao Hui. Ltd. estimates that the net profit margin in 2023 will be 7.5 percent. - Xiao Hui. Ltd. will pay out 90% of all net income in 2023 to its shareholders. - Xiao Hui. Ltd. believes that all current assets other than cash will grow as a percent of sales (cash will remain at 8,000 ), net fixed assets will grow at 75% of the growth rate in sales, land will increase by $4000 (to $35,000 ), and short-term bank loans, accounts payable and accrued expenses will grow as a percent of sales. - The current portion of LT debt, LT debt, common stock and additional paid in capital are financing account variables (i.e., in the initial "pass" they will remain constant)
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