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Homework Assignment Chapter 101 Office Mar Inc sells numerous office supply products through a national distribution center The company has focused on maintaining a cash balance equivalent

Homework Assignment Chapter 101. Office Mart, Inc. sells numerous office supply products through a national distributioncenter. The company has focused on maintaining a cash balance equivalent to approximately14 days of sales. Sales in 2010 amounted to $125,980,673 and the company expects growthin 2011 of 11% and in 2012 of 15%. Given this information determine Office Mart, Inc.’sprojected year-end cash balance for 2011 and 20122.The following balance sheet and income statement pertain to Goode Corp., using thefollowing assumptions complete a forecasted 2013 income statement:Assumptions for 2013:Revenue growth rateCOGSOperating expensesInterest expenseTax rate32%64% of sales23% of sales10% of beginning long-term debt35%Goode Corp. Consolidated Statement ofIncome(Thousands except per share amounts)Net RevenuesCost of RevenueSG&AOperating IncomeInterest ExpenseIncome Before Income TaxesIncome taxesNet IncomeGoode Corp Consolidated Balance Sheet(Thousands)Current AssetsCash and EquivalentsMerchandise inventoryAccounts receivablePPE (including intangibles), netTotal AssetsLiabilities and Stockholders’ EquityAccounts payableLong-term debtShareholders’ EquityCommon stock and APIC2012$345,871(226,546)(83,009)36,316(484)35,832(12,541)$23,29120127,9056,3086,61439,45860,2859,64313,50028,613Retained earningsTotal Liabilities and Shareholders’ Eq.2.8,52960,285

May 22 2020 View more View Less

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