Zapatera Enterprises Evaluating Financing Requirements Coming Year Firm Business 1 Year Cf Q17771620

Zapatera Enterprises is evaluating its financing requirementsfor the coming year. The firm has been in business for only 1 year,but the CFO predicts the firm’s operating expenses, current assets,net fixed assets, and current liabilities will remain at theircurrent proportion of sales. Last year Zapatera had $12.89 millionin sales and net income of $1.18million. The firm anticipates thatnext year’s sales will reach $14.01 million, with net income risingto $2.05 million. Given its present high rate of growth, the firmretains all its earnings to help defray the cost of newinvestments. The firm’s balance sheet for 2013 is found below.

Estimate? Zapatera’s total financing requirements? (totalassets) and its net funding requirements? (discretionary financing?needed) for 2014.??

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Note?: Use the percentage of sales given in Zapatera?Enterprises’ balance sheet for 2013.

?Hint: Make sure to round all intermediate calculations to atleast five decimal places.

The 2014 retained earnings are

?$3350000.003350000.00.

?(Round to the nearest? dollar.)

Complete the pro forma balance sheet for 2014? below:???(Roundto the nearest? dollar.)

Zapatera Enterprises, Inc.

Pro forma Balance Sheet

12/31/14

Current assets

$

2600042.00

Net fixed assets

Total

Liabilities and Owners’ Equity

Accounts payable

Long-term debt

Total liabilities

Common stock

Paid-in capital

Retained earnings

Common equity

Total

Data Table Zapatera Enterprises, Inc. Balance Shee

Data Table Zapatera Enterprises, Inc. Balance Sheet Current assets Net fixed assets Total Liabilities and Owners’ Equity Accounts payable Long-term debt Total liabilities Common stock Paid-in capital Retained earnings Common equity 1231/13 2,600,000 5,800,000 8,400,000 2,500,000 2,000,000 4,500,000 1,000,000 1,600,000 1,300,000 3.900.000 Print Done of Sales 20.171% 44.996% 19.395% NAa NAa NAa Show transcribed image text Data Table Zapatera Enterprises, Inc. Balance Sheet Current assets Net fixed assets Total Liabilities and Owners’ Equity Accounts payable Long-term debt Total liabilities Common stock Paid-in capital Retained earnings Common equity 1231/13 2,600,000 5,800,000 8,400,000 2,500,000 2,000,000 4,500,000 1,000,000 1,600,000 1,300,000 3.900.000 Print Done of Sales 20.171% 44.996% 19.395% NAa NAa NAa

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