Ziay!

Joe J

Balance Sheet Dec 31 200X
In Millions

Cash $45
Accounts Payables $45
Marketable Securities 33
Notes Payables 45
Receivables 66
Other Current liabilities 21
Inventory 159
Total Current liabilities $111
Total Current Assets 303
Long term debt 24
Total Assets $450
Retained Earnings 201
Total stockholders’ equity 315
Total liabilities and equity 450

Income Statement Year 200X

Net sales $795,000,000


Given the compressed version of balance sheet and income statement; estimate the amount of external financing needed to increase sales by 20% next year. (use percentage of sales method)
(Dividend payout is 50%)