MSFT ($ in millions, shares in millions) Income Statement Sales COGS Gross Profit Research and Dev. SGA FY2023 211,915 65,863 146,052 27,195 16653 Depreciation 13681 Operating Income, EBIT 88,523 Interest Expense 1968 Pretax income, EBT Taxes Net income Retained Earnings Dividends Price per share Shares outstanding 86,555 16950 69,605 32,902 36,703 330.24 7,430 Balance Sheet Cash Short-term Investments Accounts Rec. Inventories Other current Assets Total Current Assets Net PPE Intangibles Other assets Total Assets Accounts Payable Current portion of LTD Other Current Liabilities Total Current Liabilities Long-term debt Total Liabilities Common stock Retained Earnings Total Equity Total Liab. And Equity FY2023 34704 76558 48688 2500 21807 184257 95641 101477 30601 411976 18095 5247 80807 104149 101604 205753 93718 112,505 206223 411976
1. Given the most recent financial statements for FY2023. Sales for FY2024 are expected to grow by 10 percent. The following assumption must be held in the pro forma financial statements. The tax rate (percentage), the interest expense ($ amount), and the dividend payout ratio (percentage) will remain constant. COGS, SGA, Depreciation, all current asset accounts, Net PPE, intangibles, other assets, and accounts payable increase spontaneously with sales. Calculate the pro forma value for total assets for FY24 if the firm operates at full capacity and no new debt or equity is issued. (Enter percentages as decimals and round to 4 decimals)
2. Given the most recent financial statements for FY2023. Sales for FY2024 are expected to grow by 10 percent. The following assumption must be held in the pro forma financial statements. The tax rate (percentage), the interest expense ($ amount), and the dividend payout ratio (percentage) will remain constant. COGS, SGA, Depreciation, all current asset accounts, Net PPE, intangibles, other assets, and accounts payable increase spontaneously with sales. Calculate the pro forma value for accumulated retained earnings for FY24 if the firm operates at full capacity and no new debt or equity is issued. (Enter percentages as decimals and round to 4 decimals)
3. Given the most recent financial statements for FY2023. Sales for FY2024 are expected to grow by 10 percent. The following assumption must be held in the pro forma financial statements. The tax rate (percentage), the interest expense ($ amount), and the dividend payout ratio (percentage) will remain constant. COGS, SGA, Depreciation, all current asset accounts, Net PPE, intangibles, other assets, and accounts payable increase spontaneously with sales. Calculate the pro forma value for external financing needed (EFN) for FY24 if the firm operates at full capacity and no new debt or equity is issued. (Enter percentages as decimals and round to 4 decimals)
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