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Back to Assignment Attempts Average / 4 1. The Additional Funds Needed (AFN) equation Cold Duck Manufacturing Inc. has the following end-of-year balance sheet: Cold Duck Manufacturing Inc. Balance Sheet For the Year Ended on December 31 Assets Liabilities Current Assets: Current Liabilities: Cash and equivalents $150,000 Accounts payable $250,000 Accounts receivable 400,000 Accrued liabilities 150,000 Inventories 350,000 Notes payable 100,000 Total Current Assets $900,000 Total Current Liabilities $500,000 Net Fixed Assets: Long-Term Bonds 1,000,000 Net plant and equipment $2,100,000 Total Debt $1,500,000 (cost minus depreciation) Common Equity Common stock 800,000 Retained earnings 700,000 Total Common Equity $1,500,000 Total Assets $3,000,000 Total Liabilities and Equity $3,000,000 The firm is currently in the process of forecasting sales, asset requirements, and required funding for the coming year. In the year that just ended, Cold Duck Manufacturing for generated $450,000 net income on sales of $13,000,000. The firm expects sales to increase by 18% this coming year and also expects to maintain its long-run dividend payout ratio of 30% Suppose Cold Duck Manufacturing Inc.'s assets are fully utilized. Use the additional funds needed (AFN) equation to determine the increase in total assets that is necessary to support Cold Duck Manufacturing Ine's expected sales. (Note: Do not round Intermediate calculations) 5432,000 $540,000 $594,000 5486,000 When a firm grows, some liabilities grow spontaneously along with sales. Spontaneous abilities are a source of capital that the firm will generate Intemally, so they reduce the need for external capital. How much of the total increase in assets will be supplied by spontaneous liabilities for cold Duck Manufacturing Inc. this year? (Note: Do not round intermediate calculations.) $79,200 $57,600 564,800 $72,000 In addition, Cold Duck Manufacturing Inc. is expected to generate net income this year. The firm will pay out some of its earnings as dividends but will retain the rest for future asset investment. Again, the more a firm generates internally from its operations, the less it will have to raise externally from the capital markets. Assume that the firm's profit margin and dividend payout ratio are expected to remain constant. 400,292 from operations that will be added to Given the preceding information, Cold Duck Manufacturing Inc. is expected to generates I retained earnings. (Note: Do not round Intermediate calculations.) 67,708. (Note: Do not round According to the AFN equation and projections for Cold Duck Manufacturing Inci, the firm's AFN is $ intermedinte calculations.) 1. The Additional Funds Needed (AFN) equation Cold Duck Manufacturing Inc. has the following end-of-year balance sheet: Cold Duck Manufacturing Inc. Balance Sheet For the Year Ended on December 31 Assets Labs Current Asset Current Liabetes Cash and equivalents $150,000 Accounts payable $250.000 Accounts receivable 400,000 Acord labies 150.000 Inventores 350.000 Notes para 100,000 Total Current Assets 3900.000 Total Current Lab 3500.000 Net Fixed Assets Long-Term Bonds 1.000.000 Net plant and equipment $2,100,000 Total Debt $1.500.000 (cost minus depreciation) Common Equity Common stock 800.000 Retained earnings 700.000 Total Common Equity $1,500,000 Total Assets $3,000,000 Total Libes and Equity 53.000.000 The form is currently in the process of forecasting sales asset requirements, and red funding for the coming year in the year that is ended, Cold Duck Manufacturing Inc generated $450,000 net income on sales of $13.000.000. The fem expects sales to increase by 18 this coming year and also expects to maintain a long-run vidend payout ratio of 304 por con Manufacturing The's sets are fully und. Use the additional Minds needed (NN) equation to determine the increase in total es that is necessary to support Cold Duck Manufacturing Indexpected sales. (Note: Do not found intermediate calculations) 3433,000 1540,000 354.000 $406,000 When fym grow, some abilities grow spontaneously along with sales Spontaneous abilities are source of capital that the firm wit generate Internet, so they duce the need for external portal. How much of the total nen in sets will be suplied by spontanetes liabilities for Duck Manufacturing in this year? (Note: Do not round intermediate calculation) $79,200 $64,100 72,000 In addition, Cold Ouck Manufacturing Inc. is spected to generate net income this year. The firm will pay out some of its earnings as dividends but will retain the rest for rent investment Again, the more from generates internally from its operations, the less it will have to raise externally from the capital markets. Asun that their profit margin and dividend payout ratio are expected to remain constant from operations that will be added ta Given the preceding information, Cold Duck Manufacturing Incis cxpected to generates retained Note: Do not round Intermediate calculation) According to the Aquation and projections for Cold Duck Manufacturing Inc, the fien's AYNIS S intermediate calculations.) (Note: Do not round