Additional Funds Needed Version C The Tigers Inc.'s sales are forecasted to double from $900 in 2020 to $1800 in 2021 (that is, a 100% increase). The 2020 Balance sheet for Tigers Inc., is shown here: 2020 Balance Sheet Cash $ 50 Account payable 2$ 100 Account receivable $ 250 Notes payable $ 150 |Inventories |Net fixed assets $ $ Long-term debt Common stock $ $ $ 250 400 500 150 Retained earnings 250 Total assets $ 1,050 Total liabilities and equity $ 1,050 Assume that Tigers' fixed assets were used to 100% capacity and that its current assets were at their proper levels in relation to sales. Tigers' after-tax profit margin (i.e. NI/ Sales) is forecasted to be 8% and its payout ratio to be 40%. Sales 2020 = Sales 2021 = NI/Sales = Payout ratio = $ 900 $ 1,800 8% 50% What is Tigers' additional funds needed (AFN) for 2021? Round your answer to the nearest dollar.
Additional Funds Needed Version C The Tigers Inc.'s sales are forecasted to double from $900 in 2020 to $1800 in 2021 (that is, a 100% increase). The 2020 Balance sheet for Tigers Inc., is shown here: 2020 Balance Sheet Cash $ 50 Account payable 2$ 100 Account receivable $ 250 Notes payable $ 150 |Inventories |Net fixed assets $ $ Long-term debt Common stock $ $ $ 250 400 500 150 Retained earnings 250 Total assets $ 1,050 Total liabilities and equity $ 1,050 Assume that Tigers' fixed assets were used to 100% capacity and that its current assets were at their proper levels in relation to sales. Tigers' after-tax profit margin (i.e. NI/ Sales) is forecasted to be 8% and its payout ratio to be 40%. Sales 2020 = Sales 2021 = NI/Sales = Payout ratio = $ 900 $ 1,800 8% 50% What is Tigers' additional funds needed (AFN) for 2021? Round your answer to the nearest dollar.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Additional Funds Needed
Version C
The Tigers Inc.'s sales are forecasted to double from $900 in 2020 to $1800 in 2021 (that is, a 100%
|increase). The 2020 Balance sheet for Tigers Inc., is shown here:
2020 Balance Sheet
Cash
$
50
Account payable
100
Account receivable
$
250
Notes payable
$
150
$
$
Long-term debt
Common stock
$
$
$
Inventories
250
400
Net fixed assets
500
150
Retained earnings
250
Total assets
$ 1,050
Total liabilities and equity
$
1,050
Assume that Tigers' fixed assets were used to 100% capacity and that its current assets were at
their proper levels in relation to sales. Tigers' after-tax profit margin (i.e. NI/ Sales) is forecasted to
|be 8% and its payout ratio to be 40%.
Sales 2020 =
Sales 2021 =
NI/Sales =
Payout ratio =
$ 900
$ 1,800
8%
50%
What is Tigers' additional funds needed (AFN) for 2021? Round your answer to the nearest dollar.
%24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F22993910-5b88-4044-b11d-ebf6a7fa5940%2F3f3fd9e0-dfdf-4c6e-b7f4-48939e4f8092%2F78movxw_processed.png&w=3840&q=75)
Transcribed Image Text:Additional Funds Needed
Version C
The Tigers Inc.'s sales are forecasted to double from $900 in 2020 to $1800 in 2021 (that is, a 100%
|increase). The 2020 Balance sheet for Tigers Inc., is shown here:
2020 Balance Sheet
Cash
$
50
Account payable
100
Account receivable
$
250
Notes payable
$
150
$
$
Long-term debt
Common stock
$
$
$
Inventories
250
400
Net fixed assets
500
150
Retained earnings
250
Total assets
$ 1,050
Total liabilities and equity
$
1,050
Assume that Tigers' fixed assets were used to 100% capacity and that its current assets were at
their proper levels in relation to sales. Tigers' after-tax profit margin (i.e. NI/ Sales) is forecasted to
|be 8% and its payout ratio to be 40%.
Sales 2020 =
Sales 2021 =
NI/Sales =
Payout ratio =
$ 900
$ 1,800
8%
50%
What is Tigers' additional funds needed (AFN) for 2021? Round your answer to the nearest dollar.
%24
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