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You have available the Income Statement for 2018 and the Balance Sheet as of the fiscal year end 2018 for Anthony & Co.i all dollar
You have available the Income Statement for 2018 and the Balance Sheet as of the fiscal year end 2018 for Anthony & Co.i all dollar amounts are in thousands. Note that: -Anthony's long-term debt is being reduced at the rate of $20 per year; Anthony's has no plans to expand its property; Anthony's 2019 sales are forecast to be $5,000; and, Anthony's tax rate is 20% me Statemen Sales Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Net Income Before Taxe:s Provision for Taxes Net Income $4,000 3,.000 $1,000 800 40 $ 160 32 128 lance Sheet Cash Accounts Receivable Inventory $ 80 400 600 1,080 200 1,280 Current Assets Property Total AssetS Notes Payable, Bank Accounts Payable Long-Term Debt, Current Current Liabilities Total Liabilities Total Liabilities 240 360 20 620 160 $780 500 Long-Term Debit Net Worth & Net Worth $1,280 1. Use the percent of sales approach to estimate the amount of external financing Anthony & Co. will need by year-end 2019 2. Use the cash cycle approach to estimate the amount of external funding Anthony & Co. will need by year-end 2019 3. Why are these two estimates different
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