Financing Deficit Garlington Technologies Inc.'s 2021 financial statements are shown below: Income Statement for Decembe
Posted: Wed Jul 06, 2022 6:43 pm
Financing Deficit
Garlington Technologies Inc.'s 2021 financial statements areshown below:
Income Statement for December 31, 2021
Balance Sheet as of December 31, 2021
Suppose that in 2022 sales increase to $4.8 million and that2022 dividends will increase to $168,000. Forecast the financialstatements using the forecasted financial statement method. Assumethe firm operated at full capacity in 2021. The long-term bondshave an interest rate of 12%. New financing will be with a line ofcredit. Assume it will be added at the end of the year. Cash doesnot earn any interest income. Enter your answers as positivevalues. Do not round intermediate calculations. Round your answersto the nearest dollar.
Garlington Technologies Inc.'s 2021 financial statements areshown below:
Income Statement for December 31, 2021
Balance Sheet as of December 31, 2021
Suppose that in 2022 sales increase to $4.8 million and that2022 dividends will increase to $168,000. Forecast the financialstatements using the forecasted financial statement method. Assumethe firm operated at full capacity in 2021. The long-term bondshave an interest rate of 12%. New financing will be with a line ofcredit. Assume it will be added at the end of the year. Cash doesnot earn any interest income. Enter your answers as positivevalues. Do not round intermediate calculations. Round your answersto the nearest dollar.