FIN 419 ASSIST Extraordinary Life/fin419assist.com FIN 419 ASSIST Extraordinary Life/fin419assist.com | Page 46

P, P & E $ 12,745,000 Long Term Debt $ 1,225,000 Goodwill $ 1,205,000 Other LT Debt $ 2,230,000
Intangible Assets $ 5,275,000 Total LT Liabilities $ 3,455,000
Total LT Assets
$ 19,225,000
Total
Liabilities
$ 12,645,000
Total Assets $ 26,079,000
Equity
Stock
$ 6,425,000
Earnings
$ 7,009,000
Owners’ Equity
$ 13,434,000
Liab / OE
$ 26,079,000
Owners’
Common
Retained
Total
Total
Transfer this balance sheet to an Excel spreadsheet and begin to prepare a Pro Forma Balance Sheet for 2016 based on the following information:
2. Cash will increase to $ 2,825,000 and accounts receivable will increase by 15 %. The inventories will go up 35 % and P, P, & E will go