B Assignment #3 (Chapter 4) - 22W x Question 6 - Assignment #3 (Cha x * Course Hero X + X -) C VYN ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlew... > 8 G Google a Amazon.de mi eBay Facebook YouTube @ Addons Store G Gmail YouTube S New Tab ) Maps Registration Term G Beka Bante - Printin.. > > Reading list Assignment #3 (Chapter 4) Saved Help Save & Exit Submit Check my work 6 Carter Paint Company has plants in four provinces. Sales last year were $100 million, and the balance sheet at year-end is similar in percent of sales to that of previous years (and this will continue in the future). All assets and current liabilities will vary directly with sales. Assume the firm is already using capital assets at full capacity. 12.5 Balance Sheet (in $ millions) points Assets Liabilities and Shareholders' Equity Cash $7 Accounts payable Skipped Accounts receivable 13 Accrued wages Inventory 18 Accrued taxes Current assets 38 Current liabilities 18 38 Long-term debt 10 eBook Capital assets Common stock 15 Retained earnings 33 Print Total assets $76 Total liabilities and shareholders' equity $76 References The firm has an aftertax profit margin of 6 percent and a dividend payout ratio of 30 percent. a. If sales grow by 10 percent next year, determine how many dollars of new funds are needed to finance the expansion. (Do not round intermediate calculations. Enter the answer in millions. Round the final answer to 3 decimal places.) The firm needs $ million in external funds. b. Prepare a pro forma balance sheet with any financing adjustment made to long-term debt. (Do not round intermediate calculations. Input all answers as positive values. Be sure to list the assets and liabilities in order of their liquidity. Enter the Mc Graw Hill OLIE B A O ENG 5:19 PM 3 W US 2022-02-09 DB Assignment #3 (Chapter 4) - 22W x Question 6 - Assignment #3 (Cha x * Course Hero X + X -) C VYN ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlew... > 8 G Google a Amazon.de mi eBay Facebook YouTube @ Addons Store G Gmail YouTube S New Tab ) Maps Registration Term G Beka Bante - Printin. > > Reading list Assignment #3 (Chapter 4) Saved Help Save & Exit Submit Check my work 6 b. Prepare a pro forma balance sheet with any financing adjustment made to long-term debt. (Do not round intermediate calculations. Input all answers as positive values. Be sure to list the assets and liabilities in order of their liquidity. Enter the answers in millions. Round the final answers to 2 decimal places.) Balance Sheet 12.5 ($ millions) points Assets iabilities and Shareholders' Equity Click to select $ Click to select Skipped (Click to select (Click to select (Click to select (Click to select) eBook Current assets $ Current liabilities $ (Click to select (Click to select Print Click to select References (Click to select) Total assets $ Total liabilities and shareholders' equity $ c. Calculate the current ratio and total debt to assets ratio for each year. (Do not round intermediate calculations. Round the final answers to 1 decimal places.) Year 1 Year 2 Current ratio X Total debt / assets Mc Graw Hill OLIDe B. 3 O W A O ENG 5:20 PM US 2022-02-09