Excel File Edit View Insert Format Tools Data Window Hel ? 27%? Tue 12:59 PM :E ACFI 385 Excel Project Winter XXXXXXXXXXxlsx 1 00% Search in Sheet Home Layout Tables Charts SmartArt Formulas Data...

Excel File Edit View Insert Format Tools Data Window Hel ? 27%? Tue 12:59 PM :E ACFI 385 Excel Project Winter 2019(1) (3).xlsx 1 00% Search in Sheet Home Layout Tables Charts SmartArt Formulas Data Review Edit Font Aignme Format 0 A Fill ? Verdana Wrap TextCeneral Bad Good Clear BI % , calf Conditional Neutral Check Cell Insert Delete Format Themes Aa F7 26 Interest Expense 27 Income before Taxes 28 Income Tax Expense 29 Net Income 30 Retained Earnings, Beginning Interest Expense wil increase by 5% from 2018 Income Tax Rate for 2018 will be 25% of earnings before taxes Retained Earnings at December 31, 2017 was $825,600 Divicend Payout Rate will be 60% of Net Income 32 Retained Earnings, Ending Points Earned 24 34 35 36 Flood Distributing Corp. 7 Pro-Forma Balance Sheet 38 2018 Fiscal Year 39 40 Current Assets: 41 Cash 42 Accounts Receivable 43 Inventory 44 Prepaid Expenses 45 Total Current Assets 46 Noncurrent Assets 47 Total Assets 48 49 s0 Current Liabilities: 51 Notes Payable 52 Accounts Payable 53 Income Taxes Payable s4 Accrued Expenses ASSETS Minimum Cash Balance of $250,000 is desired Days Sa es Outstanding will be 62 days verage Selling Period wil be 72 days Prepaid Expenses wil be $135,800 Total Asset Turnover will be 1.10 times LIABILITIES AND EQUITY Minimum Notes Payable wi be $300,000 Average Payment Period will be 42 days Payable will be 10% of the year's expense 55 Total tions Loan Bond Valuation Normal Vilew Select destination and press ENTER or choose Paste Sum-0 Excel File Edit View Insert Format Tools Data Window Hel ? 27%? Tue 12:59 PM :E ACFI 385 Excel Project Winter 2019(1) (3).xlsx 1 00% Search in Sheet Home Layout Tables Charts SmartArt Formulas Data Review Edit Font Aignme 0 A ·Fill ? Verdana Wrap TextCeneral Bad Good Clear Blu| % , calf Conditional Neutral Check Cell Insert Delete Format Themes Aa G63 41 Cash 42 Accounts Receivable 43 Inventory 44 Prepaid Expenses 45 Total Current Assets 46 Noncurrent Assets 47 Total Assets 48 49 o Current Liabilities: 51 Notes Payable 52 Accounts Payable 53 Income Taxes Payable 54 Accrued Expenses ss Total Current Liabilities 56 Long-term Debt 57 Total Liabilities 58 Equity: 9 Contributed Capital 60 Retained Earnings 61 Total Equity 62 Additional Financing Required 63 64 65 Minimum Cash Balance of $250,000 is desiresd Days Sa es Outstanding will be 62 days Average 5elling Period will be 72 days Prepaid Expenses will be $135,800 Total Asses Turnover will be 1.10 times LIABILITIES AND EQUITY Minimum Notes Payable will be $300,00o Average Payment Feriod will be 42 days Payable will be 10% of the year's expense The company will maintain a Current Ratlo af 2.25 The company will try to maintain a target Deot-to-Total Assets ratio of 68.5 Contributed Capital will not change from its 2017 balance of s1,200,000 Total Liabilities and Equity Points Earned 67 68 69 70 71 Loan Bond Valuation Normal Vilew Select destination and press ENTER or choose Paste Sum-0