Chapter 12: Intermediate Problem 12-6 (page 530)
The Booth Company’s sales are forecasted to double from $1,000 in 2019 to $2,000 in 2020. Here is the December 31, 2019, balance sheet (see attached Excel sheet):
Cash $100 Accounts payable $50
Accounts receivable 200 Notes payable 150
Inventories 200 Accruals 50
Net fixed assets 500 Long-term debt 400
Common stock 100
Retained earnings 250
Total assets $1,000 Total liabilities and equity $1,000
Booth’s fixed assets were used to only 50% of capacity during 2019, but its current assets were at their proper levels in relation to sales. All assets except fixed assets must increase at the same rate as sales, and fixed assets would also have to increase at the same rate if the current excess capacity did not exist. Booth’s after-tax profit margin is forecast to be 5% and its payout ratio to be 60%. What is Booth’s additional funds needed (AFN) for the coming year?
Requirements of the assignment:
Paper. Write a Paper to answer the Questions and explain your calcualtions results in the paper (not the actual calcuations), attaching the Excel workbook as an Appendix with the detailed calcualtions, referrinfg to the calculation details in your paper by referencing the Appendix page in the Excel Workbook.
APA. All papers must follow all APA requirements. (10% deduction if not). See APA 7th edition for using Appendices for your Excel workbook.
Length. The paper is to be 2-page minimum/3-page maximum (not including title and references page).
Title page and reference page are required. However, they do not count towards any page count.
Analysis. Writing should reflect an understanding of the chapter’s basic concepts, thorough research, and logic and critical thinking skills.
References/Citations. You must include scholalry sources as references and citations. At a minimum you must include the textbook as a reference. And any refernce listed must be used and cited in your paper. You need to provide citations for all instances where you use information/thoughts from outside knowledge, even if not quoted. Citations are required and need to be included and tied to all references. Not providing references and citations can be an issue of academic integrity if attribution not provided for insights gained from outside sources. This also significantly impacts the grade on content, since authority of analysis is limited. See APA 7th edition for more details. In addition to the citatiosn, remember that quoted material must always have a citation with page #.
Introduction. The introduction is attention getting with sufficient background information to establish the topic and a clear thesis statement. The introduction presents the background to your study, introduces your topic and aims, and gives an overview of the paper.
Conclusion. The conclusion summarizes the main points and leaves the reader with a strong comprehension of the paper’s significance and the author’s understanding. The conclusion is intended to help the reader understand why your research should matter to them after they have finished reading the paper; a synthesis of key points and finding you want the reader to take way from your analysis.
Writing mechanics. Grammatically correct – No spelling, grammar, or mechanics errors.
Excel. An Excel template is attached. The Excel workbook can either be copy/pasted into your paper AFTER the references page as an Appendix or submitted as a separate document along with your paper Word document when submitting the assignment.
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