Data for CW Corporation (for the year 2021): Marketable Securities = PHP 100,000, Net Fixed Assets =

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Question:

Data for CW Corporation (for the year 2021): Marketable Securities = PHP 100,000, Net
Fixed Assets = PHP 2,000,000, Long-term Debt = PHP 1,000,000, Common Stock =
PHP 100,000, Retained Earnings = PHP 1,760,000. Other information (for the year
2022):

Sales are forecasted to be PHP 6,000,000.

The following will be computed as a percentage of sales: Accounts Receivable = 10%,
Inventories = 20%, Accounts Payable = 15%, Accruals = 15%, Other Current Liabilities =
10%, Net Profit Margin = 10%.

The following will have no changes: Long-term Debt & Common Stock.

The firm would like to have PHP 240,000 in Cash.

Marketable Securities will increase by 10%.

It will invest PHP 750,000 in fixed assets. Depreciation for 2022 is expected to be PHP
195,000.

It will pay 70% of its Net Income After Taxes in dividends.

Construct its forecasted balance sheet for 2022.