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Category > Accounting Posted 03 Jun 2017 My Price 5.00

Lindsey Insurance Co Current Assets,

Question description

 

Lindsey Insurance Co. has current sales of $10 million and predicts next year's sales will grow to $14 million. Current assets are $3 million and fixed assets are $4 million. The firm's net profit margin is 7 percent after taxes. Presently, Lindsey has $900,000 in accounts payable, $1.1 million in long-term debt, and $5 million (including $2.5 million in retained earnings) in common equity. Next year, Lindsey projects that current assets will rise in direct proportion to forecasted sales, and that fixed assets will rise by $500,000. Lindsey also plans to pay dividends of $400,000 to common shareholders.

A. What are Lindsey's total financing needs for the upcoming year?

B. Given the above information, what are Lindsey's discretionary financing needs?

Answers

QuickHelper
(10)
Status NEW Posted 03 Jun 2017 12:06 PM My Price 5.00

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