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    Phoniex University
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Category > Management Posted 28 Sep 2017 My Price 9.00

Fire Corporation

Solve for External financing needed and equity in the second table! Please!!

Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes):

Income statement

Balance Sheet

Sales $39,600

Costs $31,800

Net Income $7,800

Assets $ 23,800

Total $23,800

Debt $6,800

Equity 17,000            

Total $23,800

The company has predicted a sales increase of 20 percent. Assume Fire pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not.

Prepare the pro forma statements. (Round your answers to the nearest whole dollar amount.)

Pro forma income statement

Pro forma balance sheet

Sales $47520

Assets $28560

Debt $6800

Costs $38160

  

Equity??????

Net Income $9360

Total $28560

Total $28480

Determine the external financing needed. (Negative amount should be indicated by a minus sign.)

  External financing needed $   ????????

I also need to the know the equity in the second tableAc€¦.?????

Answers

Maurice Tutor
(5)
Status NEW Posted 28 Sep 2017 10:09 PM My Price 9.00

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