Assets Cash A Marketable Securities Accounts Receivable Inventory Prepaid Expenses Total Current Assets Fixed Assets, Gross...

Transcribed Image Text:

Assets Cash A Marketable Securities Accounts Receivable Inventory Prepaid Expenses Total Current Assets Fixed Assets, Gross Less Accumulated Depreciation Fixed Assets, Net Total Assets $ m 2017 Igor's Ice Cream Balance Sheet 2,300 650 1,800 4,750 16,000 8,640 7,360 $ 12,110 2018 IT Liabilities and Equity Accounts Payable Line of credit Accrued Expenses Total Current Liabilities Long-Term Debt Total Liabilities Common Stock ($1 par) Capital in Excess of Par Retained Earnings Total Common Equity Total Liabilities and Equity Igor's Ice Cream business is struggling. Igor is hoping marketing new flavors will help him. For an additional $2000 in marketing costs, Igor is hoping for a 15% increase in sales. Igor takes home $22000 in dividends (personal income). And wants to keep at least $2000 on hand in cash at all times. $ $ 2017 650 930 - 1,580 10,000 11,580 1 - 529 530 12,110 5 2018 Assets Cash A Marketable Securities Accounts Receivable Inventory Prepaid Expenses Total Current Assets Fixed Assets, Gross Less Accumulated Depreciation Fixed Assets, Net Total Assets $ m 2017 Igor's Ice Cream Balance Sheet 2,300 650 1,800 4,750 16,000 8,640 7,360 $ 12,110 2018 IT Liabilities and Equity Accounts Payable Line of credit Accrued Expenses Total Current Liabilities Long-Term Debt Total Liabilities Common Stock ($1 par) Capital in Excess of Par Retained Earnings Total Common Equity Total Liabilities and Equity Igor's Ice Cream business is struggling. Igor is hoping marketing new flavors will help him. For an additional $2000 in marketing costs, Igor is hoping for a 15% increase in sales. Igor takes home $22000 in dividends (personal income). And wants to keep at least $2000 on hand in cash at all times. $ $ 2017 650 930 - 1,580 10,000 11,580 1 - 529 530 12,110 5 2018

Answer rating: 100% (QA)

Here are the stepbystep calculations 1 Current sales Not provided so assume current sales 10000 2 Pr... View the full answer