C - BALANCE SHEET

NOTE: If you cannot get your balance sheet to balance, add a line item in the appropriate section titled Plug for the amount needed.

Presented on the template provided is Crossleys projected balance sheet at 12/31/18. Prepare a budgeted balance sheet at 12/31/19 next to it, then answer the following questions in the space below your balance sheets. Label your answers, but the amounts themselves should be calculated by formulas that include cell references:

What is the budgeted return on investment (round your answer to the nearest one percent)?

If the company has established a minimum required rate of return of 22% for Crossley, what is budgeted residual income (round your answer to the nearest dollar)?

If the CEO of Crossley has set a target ROI of 28%, how many units would the company have to sell for the year (round your answer to the nearest whole unit)?

please show the work and cell references.

D CROSSLEY COMPANY BALANCE SHEET AT DECEMBER 31 2019 2018 ASSETS 1625000 3069360 Cash Accounts receivable Inventory Raw materials Finished goods Property, plant and equipment, net Total Assets 275000 481600 756600 2939555 8390515 18 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable Commissions payable Note payable Common stock, no par Retained earnings Total Liabilities and Stockholders' Equity 20 2600000 187425 1500000 2450000 1653090 8390515 NORANS Operating Budgets Income Statement Cash Budget Balance Sheet