9-17 AFN KV - Brigham 9-6 Stevens Textile Balance Sheets as...

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Brigham 9-6 Stevens Textile: Balance Sheets as of December 31, 2006 (Thousands of Dollars) Actual 2006: Assets Cash $1,080.00 Receivables $6,480.00 Inventories $9,000.00 Total Current Assets $16,500.00 Net Fixed Assets $12,600.00 Total Assets $29,160.00 Liabilities and Equity Accounts Payable $4,320.00 Accruals $2,800.00 Notes Payable $2,100.00 Total Current Liabilities $9,300.00 Mortgage Bonds $3,500.00 Common Stock $3,500.00 Retained Earnings $12,860.00 2006 R Total Liabilities and Equity $29,160.00 Stevens Textile: Income Statement for December 31, 2006 (thousands of dollars) Actual 2006 Sales $36,000.00 Operating costs $32,440.00 EBIT $3,560.00 Interest $460.00 EBT $3,100.00 Taxes (40%) $1,240.00 Net Income $1,860.00 Dividends (45%) $837.00 Addition to Retained Earnings $1,023.00
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9/14/2009 BUS 173A Forecast Basis Forecast for 2007 Percentage of Sales Ratio 3% X 2007 Sales = $1,242.00 Cash/2006 sales = 16% X 2007 Sales = $6,480.00 AR/2006 Sales = 22% X 2007 Sales = $9,000.00 Inv./2006 Sales = $16,722.00 35% X 2007 Sales = $14,490.00 Net Fixed Assets/2006 Sales= $31,212.00 12% X 2007 Sales = $4,968.00 AP/2006 Sales = 8% X 2007 Sales = $3,220.00 Accruals/2006 Sales = 6% X 2007 Sales = $2,415.00 NP/2006Sales = $10,603.00 10% X 2007 Sales = $4,025.00
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9-17 AFN KV - Brigham 9-6 Stevens Textile Balance Sheets as...

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