Question 5 with balance sheet for pavan 1001
bdkell
finance_q_5_balance_sheet_data.docxBalance sheet(in millions)
Current assets $9.04 Accounts Payable $4.02
Net fixed assets 14.72 Notes payable 0.00
Total $23.76 Bonds payable 9.01
Common equity 10.73
Total $23.76
a) if ABC anticipates sales of $81.58 million during the coming year, develop a pro forma balance sheet for 12/31/14. Assume that current assets vary as a percentage of sales, net fixed assets remain unchanged, and accounts payable vary as a percent of sales. Use notes payable as a balancing entry.
ABC Pro Forma Balance sheet
Current assets $________
Net fixed assets _________
Total assets $________
Accounts payable _________
Notes payable ________
Bonds payable _________
Common equity __________
Total liabilities and total equity $_________
b) ABC total financing needs for next year are_______(round to nearest dollar) ABC discretionary financing needs for next year are______( round to nearest dollar)
