Janom Construction Company forecasts that its sales could grow 12% for the next year 2022, the...

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Janom Construction Company forecasts that its sales could grow 12% for the next year 2022, the financial manager is planning to meet the forecasts by planning for additional investments. The total amount of dividend paid in 2021 was $10,000. Also the company has credit terms offered for the current year 2021 by its suppliers of 2/5, net 30 days, and the company pays its credits on due date. Below is the financial statements for the current year 2021; Janom Construction Company Income Statement For the Year Ended Dec. 31, 2021 Sales Cost of Goods Sold Gross Profit Selling and G&A Expenses Fixed Expenses Depreciation Expense EBIT Interest Expense Earnings Before Taxes Taxes Net Income Notes Tax Rate 2021 300,000 200,000 100,000 25,000 10,000 5,000 60,000 18,000 42,000 16,800 25,200 40% Assets Janom Construction Company Balance Sheet As of Dec. 31, 2021 Cash and Equivalents Accounts Receivable Inventory Total Current Assets Plant & Equipment Accumulated Depreciation Net Fixed Assets Total Assets Liabilities and Owner's Equity Accounts Payable Short-term Notes Payable Accruals Total Current Liabilities Long-term Debt Total Liabilities Common Stock Retained Earnings Total Shareholder's Equity Total Liabilities and Owner's Equity 2021 20,000 15,000 17,000 52,000 150,000 10,000 140,000 192,000 20,000 5,000 3,000 28,000 80,000 108,000 73,000 11,000 84,000 192,000 6. The additional funds needed (AFN) to reach the projected growth plan for 2022 is: a. $3,500.5 b. $3,256 c. $3,912 d.$3.962 e. None of the above Janom Construction Company forecasts that its sales could grow 12% for the next year 2022, the financial manager is planning to meet the forecasts by planning for additional investments. The total amount of dividend paid in 2021 was $10,000. Also the company has credit terms offered for the current year 2021 by its suppliers of 2/5, net 30 days, and the company pays its credits on due date. Below is the financial statements for the current year 2021; Janom Construction Company Income Statement For the Year Ended Dec. 31, 2021 Sales Cost of Goods Sold Gross Profit Selling and G&A Expenses Fixed Expenses Depreciation Expense EBIT Interest Expense Earnings Before Taxes Taxes Net Income Notes Tax Rate 2021 300,000 200,000 100,000 25,000 10,000 5,000 60,000 18,000 42,000 16,800 25,200 40% Assets Janom Construction Company Balance Sheet As of Dec. 31, 2021 Cash and Equivalents Accounts Receivable Inventory Total Current Assets Plant & Equipment Accumulated Depreciation Net Fixed Assets Total Assets Liabilities and Owner's Equity Accounts Payable Short-term Notes Payable Accruals Total Current Liabilities Long-term Debt Total Liabilities Common Stock Retained Earnings Total Shareholder's Equity Total Liabilities and Owner's Equity 2021 20,000 15,000 17,000 52,000 150,000 10,000 140,000 192,000 20,000 5,000 3,000 28,000 80,000 108,000 73,000 11,000 84,000 192,000 6. The additional funds needed (AFN) to reach the projected growth plan for 2022 is: a. $3,500.5 b. $3,256 c. $3,912 d.$3.962 e. None of the above

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