I need help calculating the common stock and retained earnings,
external funds required and total liabilities and stockholders’
equity, for Peabody & Peabody please.
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Liabilities and stockholders’ equity Current liabilities Accounts payable Accruals Other current liabilities 1718200 505000 80100 Long-term debt 2007900 s 2007900 Total liabilities $4211200 Common stock and Retained Earnings $ External funds required Total liabilities and stockholders’ equity
Leonard Industries Balance Sheet December 31, 2019 Assets Cash Marketable securities Accounts receivable Inventories Liabilities and Stockholders’ Equity $405,000 Accounts payable $1,399,000 399,000 80,100 $1,878,100 2,007,900 3,719,000 200,000 Accruals 1,205,000 Other current liabilities 1,795,000 Total current liabilities Total current assets $3,605,000 Long-term debt Net fixed assets 4,000,000 Common stock Total liabilities and Total assets 7,605,000 stockholders’ equity 7,605,000
Pro Forma Balance Sheet Peabody & Peabody December 31, 2021 Assets Current assets 485,000 200,000 $ 1,464,100 S 2,141,700 $ 4,290,800 $ 4,826,000 $ 9,116,800 Marketable securities Accounts receivable Inventories Total current assets Net fixed assets Total assets
Pro forma balance sheet Peabody & Peabody has 2019 sales of $10.9 million. It wishes to analyze expected performance and financing needs for 2021-2 years ahead. Given the following information, respond to parts a. and b. 1) The percents of sales for items that vary directy with sales are as follows: Accounts receivable: 12.1% Inventory: 17.7%; Accounts payable 14.2%; Net profit margin, 3.5%. (2) Marketable securities and other current liabilities are expected to remain unchanged. (3) A minimum cash balance of $485,000 is desired. (4) A new machine costing $650,000 will be acquired in 2020, and equipment costing $853,000 will be purchased in 2021. Total depreciation in 2020 is forecast as $289,000, and in 2021 $388,000 of depreciation will be taken. (5) Accruals are expected to rise to $505,000 by the end of 2021 (6) No sale or retirement of long-term debt is expected (7) No sale or repurchase of common stock is expected (8) The dividend payout of 50% of net profits is expected to continue. (9) Sales are expected to be $12.1 million in 2020 and $12.1 million in 2021 (10) The December 31, 2019, balance sheet is here a. Prepare a pro forma balance sheet dated December 31, 2021 h nienuee the finanrinn channoe,einnoetod hu the efatamont nronarad in nart fa December 31, 2021 Liabilitios and stockholders’ equity Current liabilities $1718200 505000 80100 $ 2303300 2007900 $ 4211200 Accounts payable Other current liabilities Total current liabilities Long-term debt Total liabilities Common stock and Retained Earnings S External funds required Total liabilities and stockholders’ equity$
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