Answered: If sales are $1,046,500 in 2025 and…

If sales are $1,046,500 in 2025 and this represents a 15% increase over sales in 2024, what were sales in 20243 Sales in 2024

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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AFN equation Broussard Skateboard's sales are expected to increase by 15% from $8.8 million in 2019 to $10.12 million in 2020. Its assets totaled $5 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 3%, and the forecasted payout ratio is 70%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar. A
Suppose that in 2010, Country A's GDP was equal to $250$⁢250 billion and federal tax revenue was 26%26% of GDP. Corporate income taxes accounted for 9%9% of total federal tax revenue. If in 2012, GDP rose to $280$⁢280 billion and corporate income taxes increased by $2.15$⁢2.15 billion compared to 2010, calculate corporate income taxes as a share of GDP in 2012. Round all intermediate calculations and your final answer to two decimal places if necessary.
The Crowne Plaza in Kitchener has 238 rooms and achieved an occupancy of 68% for 2023 with an average daily rate of $158.76. They anticipate growth of 8% in occupancy for 2024 with no change in their ADR. Using this information, calculate their rooms sold and occupancy for 2024: 2023 Results Rooms Available Occupancy Rooms Sold Average Daily Rate Revenue ROOMS AVAILABLE
Please explain without excel
GDP Growth in % Bivariate Fit of GDP Growth in % By Year 4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 O r = 0.75 Or= .9 Or=0 2000 Or=-0.75 2005 ● 2010 Estimate the value of r based on the given scatterplot. Year 2015 2020
If a company's sales are $650,000 in 2021, and this represents an 5% increase over sales in 2020, what were sales in 2020? (Round your answer to the nearest dollar amount.) Sales
AFN equation Broussard Skateboard's sales are expected to increase by 25% from $8.4 million in 2019 to $10.50 million in 2020. Its assets totaled $4 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 3%, and the forecasted payout ratio is 40%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar.
For 2017, the firm is forecasting a 40% increase in sales and that its year end operating costs will decline to 60% of sales. Tax rate, interest expense and dividend payout ratio are expected to remain constant. Required:What is the projected 2017 net income?
AFN EQUATION Carlsbad Corporation's sales are expected to increase from $5 million in 2021 to $6 million in 2022, or by 20%. Its assets totaled $3 million at the end of 2021. Carlsbad is at full capacity, so its assets must grow in proportion to projected sales. At the end of 2021, current liabilities are $1 million, consisting of $250,000 of accounts payable, $500,000 of notes payable, and $250,000 of accrued liabilities. Its profit margin is forecasted to be 3%, and the forecasted retention ratio is 30%. Use the AFN equation to forecast the additional funds Carlsbad will need for the coming year. a. $600,000 b. $100,000 c. $446,000
AFN equation Broussard Skateboard's sales are expected to increase by 25% from $8.6 million in 2019 to $10.75 million in 2020. Its assets totaled $3 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 5%, and the forecasted payout ratio is 50%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar. $
The Martin Company expects its total sales in the first quarter of 2024 will be $200,000 . Martin estimates that , in each subsequent quarter , total sales will increase by 10 % of the sales in the immediately preceding quarter . Martin estimates that 60 % of each quarter's sales will be on account , and 40 % will be for cash . Of the amount on account , 75% will be collected in the same quarter the sale occurred , and 25 % will be collected in the following quarter . Assume Martin will have no accounts receivable at the beginning of 2024. The balance in the Accounts Receivable account at the end of the third quarter is expected to be: $42,000 $ 30,000 $36,300 $ 60,000 $108,900
Jim's Espresso expects sales to grow by 10.4% next year. Assume that Jim's pays out 85.9% of its net income. Use the following statements LOADING... and the percent of sales method to forecast: a. Stockholders' equity b. Accounts payable The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career. Income Statement Sales $205,430Costs Except Depreciation (99,920)EBITDA $105,510Depreciation (6,070)EBIT $99,440Interest Expense (net) (570)Pretax Income $98,870Income Tax (34,605)Net Income $64,265 Balance Sheet Assets Cash and Equivalents $14,920Accounts Receivable 2,010Inventories 3,950Total Current Assets $20,880Property, Plant and Equipment 10,070Total Assets $30,950 Liabilities…