Assignment 1 ACA252 Name: ID: Instructions Please solve the following Question by printing this document, answering it and submitting it back to this Blackboard. Information on the Crum Company: 2001 Ist pass Sales Operating costs 2000 S1,000.00 800.00 Factor IS xls Interest $ 200.00 16.00 EBT Taxes (40%) S 18400 73.60 Net Income Dividends (60%) S 110.40 66.24 Addition to RE S4416 x15 Current Assets Net fixed Assets S 700.00 300.00 Total assets SLOCO.0.0 Accounts Payable Notes Payable Common stock Retained carnings S 150.00 200.00 150.00 500.00 || || Total Liab & Equity SI.C.00 1. Refer to Crum Company's financial statements above. Crum expects sales to grow by 50% in 2001, and operating costs should increase at the same rate (5096) Fixed assets and Notes Payable will stay the same. Current assets should increase at the same rate as sales during 2001 (increase at 50%). The company plans to finance any external funds needed as 40 notes payable and 60% accounts payable. There is no need to consider financing feedbacks a: Prepare the 2001 1" Pass by printing and filling the above financial statoments b. Calculate the Additional Funds Needed (AFN) (409 notes payable and 60% accounts payable)