Tim Gillespie Week 2 Prob 9-7

Tim Gillespie Week 2 Prob 9-7 - $112.24 Total Current Liab...

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Tim Gillespie Fin 440 Homework Week 2 Problem 9-7 Sales 2009 350 Net Income 10.5 Dividends 4.2 40% Increase in Sales $70 20% Cash 3.5 AP 9 AR 26 NP 18 Inv 58 Accurals 8.5 Total Current Assets 87.5 Total Current Liab. 35.5 Mortgage 6 Net Fixed 35 Comm Stock 15 Retained 66 Total Assets 122.5 Total Liab and Equity 122.5 A. AFN Assets / Sales 35.00% Liab. / Sales 10.14% Increase in Assets $24.74 Increase in Liab. $7.10 Increase in Retained $4.20 AFN = $13.44 B. Pro-Forma Balance Sheet Cash $28.24 AP $9.00 AR $26.00 NP $31.44 Inv $58.00 Accurals $8.50 Total Current Assets
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Unformatted text preview: $112.24 Total Current Liab. $56.04 Mortgage $6.00 Net Fixed $35.00 Comm Stock $15.00 Retained $70.20 Total Assets $147.24 Total Liab and Equity $147.24 With AFN of 13.44 million, the pro-forma balance sheet for Upton Computers would reflect the 13.44 in Cash for assets as it is money coming into the company, and 13.44 would be added to Notes Payable for loans. This would bring the assets to 147.24 and the total liabilities and equity to 147.24...
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