Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. broussard skateboard's sales are expected to incre

Broussard Skateboard's sales are expected to increase by 15% from $8.6 million in 2018 to...

70.2K

Verified Solution

Question

Finance

Broussard Skateboard's sales are expected to increase by 15% from $8.6 million in 2018 to $9.89 million in 2019. Its assets totaled $6 million at the end of 2018. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2018, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 7%, and the forecasted payout ratio is 75%. What would be the additional funds needed? Do not round intermediate calculations. Round your answer to the nearest dollar. $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Civil Engineering
1.2K views

Select the lightest W-section for bending, Cb=1 MD = 60 k-ft ML = 40 k-ft Fy= 50 ksi Lb=10ft

Physics
1.2K views

An engine is pushed on the floor. The engine weighs 32 lbs and the angle between...

Mechanical Engineering
1.2K views

In a thermally isolated mixing chamber cold water at 50oC and 1MPa is heated steadily by...

General Management
1.2K views

Situation - You are operating an online jewellery store. Problems that you are facing - 1. Competition...

General Management
1.2K views

What additional revenue and market opportunities might the Children party businesses investigate? (300 words please) Case study: The...

Biology
1.2K views

Senetic engineering is used in agriculture to create genetically modified organisms such as crop plants...

Physics
1.2K views

Calculate the charge contained in a sphere of radius 0 2 m centred at the...

Basic Math
1.2K views

The Siddiqi family takes out a 25 year mortgage for 416000 with monthly payments at...

Calculus
1.2K views

2 2 2 2 Simplify your answer Type your answer in the form a bi...

Accounting
1.2K views

Suppose a Jones store in Dearborne, Missouri, ended May 2021 with 800,000 units of merchandise...

Accounting
1.2K views

1. Corp A wishes to acquire the business of Corp T. Corp T stock is...

Finance
1.2K views

Sally Franklin is a financial advisor to Jamie Curtess, a U.S. citizen interested in learning...