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.

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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