TABLE 6–13 Pro forma Balance Sheet Using Percentage of Sales Total Sales Forecast Current Year $275,000 Percentage of Sales (%) Sales Net Year $350,000 Assets Current Assets Cash Accounts Receivable...

Using Table 6–13, what is required in new financing if next year’s sales
forecast increases to $400,000, profit margin is 10 percent, and the payout
ratio is 90 percent?

Extracted text: TABLE 6–13 Pro forma Balance Sheet Using Percentage of Sales Total Sales Forecast Current Year $275,000 Percentage of Sales (%) Sales Net Year $350,000 Assets Current Assets Cash Accounts Receivable Inventory Total Current Assets $ 5,694 19,662 3,381 $28,737 Fixed Assets Furniture & Fixtures 5,595 25,456 $31,051 $59,788 Transporation Equipment Total Fixed Assets Total Assets Liabilities and Owner's Equity Current Liabilities Notes Payable Accrued Taxes Payable Total Current Liabilites Long Term Debt Total Liabilities Owner's Equity Total Liabilities and Owner's Equity $15,456 3,598 $19,054 18,654 $37,708 22,080 $59,788