FIN 419 help A Clearer path to student success/uophelp.com FIN 419 help A Clearer path to student success/uop | Page 39

Long Term Assets
Liabilities
P, P & E
$12,745,000
Debt
$1,225,000
Goodwill
Other LT Debt
$2,230,000
Intangible Assets
$5,275,000
Liabilities
$3,455,000
Total LT Assets
$19,225,000
Liabilities
$12,645,000
Total Assets
$26,079,000
Long Term
Long Term
$1,205,000
Total LT
Total
Owners’
Equity
Common
Stock
$6,425,000
Retained
Earnings
$7,009,000
Total Owners’
Equity
$13,434,000
Total
Liab/OE
$26,079,000
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 up $2,000,000 with
an expansion to the plant. Long term debt will increase to $2,000,000 to help
finance the plant expansion and add $1,137,150 to other LT debt.. You will now
have balance sheets for 2015 and 2016 for ICS Manufacturing.