Please solve for B-highlighted & C. The following tables contain financial statements for Dynastatics Corporation. Although the company has not been growing, it nowplans to expand and will increase net fixed assets (i.e., assets net of depreciation) by $200,000 per year for the next 4 years, and itforecasts that the ratio of revenues to total assets will remain at 1.50. Annual depreciation is 20% of net fixed assets at the beginning ofthe year. Fixed costs are expected to remain at $90 and variable costs at 70% of revenue. The company's policy is to pay out one-halfof net income as dividends and to maintain a book debt ratio of 20% of total capital.INCOME STATEMENT, 2019(Figures in $ thousands)$ 1,800RevenueFixed costs90Variable costs (70% of revenue)DepreciationInterest (6% of beginning-of-year debt)Taxable income1,26016018272Taxes (at 35%)95Net income24$ 89$ 88177DividendsAddition to retained earningsBALANCE SHEET, YEAR-END(Figures in $ thousands)2019AssetsNet working capitalFixed assets$400800Total assets$ 1,200Liabilities and shareholders' equityDebt300EquityTotal liabilities and shareholders' equity900$ 1,200Required:a1. Produce an income statement for 2020. Assume that net working capital will equal 50% of fixed assets.a2. Produce a balance sheet for 2020. Assume that net working capital will equal 50% of fixed assets.b. Now assume that the balancing item is debt and that no equity is to be issued. Prepare a completed pro forma balance sheet for2020.c. Assume that the balancing item is debt and that no equity is to be issued, what is the projected debt ratio for 2020? Answer is not complete.Complete this question by entering your answers in the tabs below.Reg A1Reg A2Req BReq cNow assume that the balancing item is debt and that no equity is to be issued. Prepare a completed pro forma balance sheetfor 2020. (Enter your answers in thousands.)Balance SheetYear-End 2020AssetsNet working capitalFixed assetsTotal assetsLiabilities & Shareholders' Equity5001,000$1,500Debt2$1,068EquityTotal liabilities & shareholders' equity$1,500%24

a1. Values in thousands 1. Fixed asset after additional fixed asset investment = 800+200= 1000 2.…

a1. Produce an income statement for 2020. Assume that net working capital will equal 50% of fixed assets. a2. Produce a balance sheet for 2020. Assume that net working capital will equal 50% of fixed assets. b. Now assume that the balancing item is debt and that no equity is to be issued. Prepare a completed pro forma balance sheet for 2020.

a1. Produce an income statement for 2020. Assume that net working capital will equal 50% of fixed assets. a2. Produce a balance sheet for 2020. Assume that net working capital will equal 50% of fixed assets. b. Now assume that the balancing item is debt and that no equity is to be issued. Prepare a completed pro forma balance sheet for 2020.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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