Problem 3-5 Universal Products Company has almost finished its pro forma financial statements for 2022, as shown next. Universal Products Company Financial Statements, 2021 and Pro Forma 2022 ($ thousands) INCOME STATEMENT Sales Cost of goods sold Operating expense Depreciation expense Interest expense Earnings before tax Tax Net income Current assets Net fixed assets Actual 2021 Total assets Current liabilities Long-term debt Owner's equity Total liabilities & equity $ 7,500 5,800 700 250 90 660 231 $429 Forecast 2022 Universal Products Company Financial Statements, 2021 and Pro Forma 2022 ($ thousands) BALANCE SHEET $ 7,900 6,100 700 260 Actual 2021 120 720 252 $ 468 3,800 3,000 $ 6,800 $1,150 700 4,950 $ 6,800 Forecast 2022 $ 4,050 $ 1,270 500 a. Assume that Universal plans to purchase $700,000 in fixed assets during 2022 and to dispose of no fixed assets during 2022. What would be its forecast for net fixed assets in 2022? b. Assume that Universal plans to have a dividend payout ratio of 50 percent in 2022 and will neither sell nor repurchase equity during 2022. What would be its forecast for owner's equity in 2022? c. Given the assumptions in questions (a) and (b), what is Universal's projected external funding required for 2022? Net fixed assets in 2022 Owner's equity in 2022 External funding required for 2022

Here are the abbreviated financial statements for Planner’s Peanuts:   INCOME STATEMENT, 2019 Sales $ 5,000   Cost   3,900   Net income $ 1,100       BALANCE SHEET, YEAR-END     2018   2019       2018   2019   Assets   $ 7,500     $ 12,100     Debt   $ 833     $ 1,000                         Equity     6,667       11,100     Total   $ 7,500     $ 12,100     Total   $ 7,500     $ 12,100         a. If sales increase by 10% in 2020 and the company uses a strict percentage of sales planning model (meaning that all items on the income and balance sheet also increase by 10%), what must be the balancing item? b. What will be the value of this balancing item?

Here are the abbreviated financial statements for Planner’s Peanuts: INCOME STATEMENT, 2022 Sales $ 5,000 Cost 3,900 Net income $ 1,100 BALANCE SHEET, YEAR-END   2021 2022   2021 2022 Assets $ 7,500 $ 12,100 Debt $ 833 $ 1,000       Equity 6,667 11,100 Total $ 7,500 $ 12,100 Total $ 7,500 $ 12,100 If sales increase by 10% in 2023 and the company uses a strict percentage of sales planning model (meaning that all items on the income and balance sheet also increase by 10%), what must be the balancing item? What will be the value of this balancing item?

Year ended December 31,   2023 2022 2021 Revenues $4,578,041 $3,864,324 $3,003,610 Costs and expenses:       Cost of goods sold $2,227,189 $2,089,089 $2,005,691 Selling and administrative 922,261 836,212 664,061 Interest 29,744 32,966 30,472 Other expenses (income) 1,475 2,141 (43) Total costs and expenses $3,180,669 $2,960,408 $2,700,181 Income before income taxes $1,397,372 $903,916 $303,429 Income taxes 229,500 192,600 174,700 Net income $1,167,872 $711,316 $128,729 Venus IndustriesConsolidated Balance Sheets (in thousands)   December 31, ASSETS 2023 2022 Current assets:     Cash and equivalents $291,284 $260,050 Accounts receivable, less allowance for doubtful accounts of $19,447 and $20,046 826,977 616,064 Inventories 592,986 512,917 Deferred income taxes 26,378 28,355 Prepaid expenses 40,663 32,977 Total current assets $1,778,288 $1,450,363 Property, plant, and equipment $571,032 $497,795 Less accumulated depreciation (193,037)…

Compute NET Profit margin ratio

Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $52,800 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal., 5,500 units, 70% completed 60,885 30 Direct materials, 50,000 units 465,000 525,885 30 Direct labor 46,910 572,795 30 Factory overhead 64,784 637,579 30 Goods finished, 2 units 30 Bal., 4,400 units, 80% completed Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in November. b. Cost of units transferred to the next department during November. c. Cost…

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The financial information on Lazy Day, Inc. is as follows:    2019   2020   Cash $ 138   $ 97   Sales   10,204     11,317   Inventory   5,209     5,138   Depreciation   956     948   Cost of goods sold   4,207     4,618   Accounts payable   3,338     3,209   Long-term debt   4,200     3,800   Shareholders’ equity   9,229     9,906   Accounts receivable   2,780     2,960   Net fixed assets   8,640     8,720   Interest expense   350     320   Selling and administrative expenses   1,015     984   Taxes   1,250     1,512     What is the cash flow to creditors for 2020?