Business, 16.04.2020 15:40 hahalol123goaway
Green Caterpillar Garden Supplies is currently in the process of forecasting sales, asset requirements, and required funding for the coming year. In the year that just ended, the firm generated $350,000 net income on sales of $14,000,000. The firm expects sales to increase by 15% this coming year and also expects to maintain its long-run dividend payout ratio of 45%. Total Current Assets $900,000, Total Current Liabilities $500,000.
Suppose Green Caterpillar Garden Supplies Inc's assets are fully utilized. Use the additional funds needed (AFN) equation to determine the increase in total assets that is necessary to support Green Caterpillar Garden Supplies Inc.'s expected sales.
a. $540,000
b. $450,000
c. 427,500
d. 382,500
Answers: 3
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