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alexandr402 [8]
2 years ago
6

I In your business, assets, and liabilities have historically varied with sales. Assets are usually 82 percent of sales, and lia

bilities are usually 54 percent of sales. Your sales next year will be $208,000 which represents an increase of $40,000. Your profit margin is 11.99 percent. You anticipate that you will have an 42 owner payout of net profit. Using the percentage of sales method, determine the amount of additional financing or surplus for your business next year. (answer to two decimal places, negative numbers start with -)
Business
1 answer:
Butoxors [25]2 years ago
8 0

Answer and Explanation:

<u>Computation table for Surplus amount:                                    </u>

<u>Particular                                           Current year  Future year </u>

Sales                                                       $168,000    $208,000

<u>Less</u><u>: Net Profit 11.99% of sales            $20,143.8    $24,932.2   </u>

Cost (sales - 11.99%)                            $147,856.8   $183,060.8  

<u>Owner's payout 42% of cost                $62,099.856  $76,885.536</u>

<u>Surplus (Cost - Owner payout)           $85,756.944  $106,175.264 </u>

<u></u>

<u>Computation table for additional financing fund:              </u>

<u>Particular                                     Current year   Future year </u>

Assets 82% of sales         $137,760   $170,560

<u>Less</u><u>: Liabilities 54% of sales        $90,720    $112,320    </u>

<u>Additional Funding          $47,040          $58,240    </u>

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