FINC5000 Homework Assignment for Week 8:

FINC5000 Homework Assignment for Week 8:

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For Week 8, please turn in the answers to the following questions:
1. The FINC 5000 Associates Corporation (FAC) has begun selling a new product and they want you to help them with next year’s pro forma financial statements. Using the worksheet below, complete the company’s forecast.
Assumptions:
To begin with, FAC is sure sales will grow 20% next year. Assume that is true. Then assume that COGS, Current Assets, and Current Liabilities all vary directly with Sales (that means if sales grows a certain percentage, then the account in question will grow by that same percentage). Assume that fixed expenses will remain unchanged and that $1500 worth of new Fixed Assets will be obtained next year. Lastly, the current dividend policy will be continued next year.
FINC 5000 Associates Corporation
Financial Forecast
Estimated
This year for next year
Sales $10,000 ________
COGS 4,000 ________