7. Given the following information and that contained in Problems 5 and 6, construct a forecast balance sheet as of June

[answerhappygod]

7. Given the following information and that contained in
Problems 5 and 6, construct a forecast balance sheet as of June 30,
20X2, for the Central City Department Store. (Assume that accounts
payable stay the same as at December 31, 20X1.)
Central City Department Store balance sheet at December 31,
20X1
ASSETS


LIABILITIES AND EQUITY
Cash $100,000

Accounts
payable $130,000
Accounts receivable 427,500
Bonds
500,000
Inventory 200,000

Common stock and
Fixed assets, net 250,000

retained earnings 347,500 $977,500 $977,500
Book: Fundaments of Financial Management - 13th Edition
Page: 199
Exercise #7