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3 years ago

The most recent financial statements for Xporter, Inc., are shown here:

Business

1 answer:

Diano4ka-milaya [45]3 years ago

8 0

Solution :

Expected sales = current sales x (1 + projected sale next year increase)

= 5,700 x (1 + 15%)

= $ 6555

Expected cost = current cost x (1 + projected sale next year increase)

= 4200 x (1 + 15%)

= $ 4830

Taxable income = 1500 x ( 1 + 15%)

= $ 1725

Taxes (34%) = 510 x (1+15%)

= $ 586.5

Net income = sales - cost - taxes

= 6555 - 4830 - 586.5

= $ 1138.5

Calculation of total asset :

Current asset = 3,900 x 1.15

= $ 4485

Fixed asset = 8100 x 1.15

= $ 9315

Total asset = 4485 + 9315

= $ 13800

Calculation of total liabilities

Current liabilities = 2200 x 1.15

= $ 2530

Long term debt = $ 3,750

Equity = $ 6050 + (1138.5 x 0.50 )

= $ 7189

Total liabilities = $ 2530 + $ 3,750 + $ 7189

= $ 13, 469

Therefore the external financial needed is = $ 13800 - $ 13, 469

= $ 331

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