SLM, Inc., with sales of $800, has the following balance sheet: SLM, Incorporated Balance Sheet as of 12/31/X0Assets Liabilities and EquityAccounts receivable$200 Trade accounts payable$120Inventory 360 Long-term debt 510Plant 800 Equity 730 $1,360 $1,360 It earns 9 percent on sales (after taxes) and pays no dividends. Round your answers to the nearest dollar.Determine the balance sheet entries for sales of $1,400 using the percent of sales method of forecasting.Accounts receivable: $ Inventory: $ Trade accounts payable: $ Will the firm need external financing to grow to sales of $1,400? If Yes, calculate the amount of external funding required, if No, enter zero. , the amount of the external funds needed is $ .Construct the new balance sheet and use newly issued long-term debt to cover a financial deficiency, if any. SLM, Incorporated Balance Sheet as of 12/31/X1Assets Liabilities and EquityAccounts receivable$ Trade accounts payable$ Inventory Long-term debt Plant Equity $

Answered: SLM, Inc., with sales of $800, has the…

A. Determine the balance sheet entries for sales of 1400 using the percent of sales forecasting…

SLM, Incorporated Balance Sheet as of 12/31/X1

Assets

Liabilities and Equity

Accounts receivable

Trade accounts payable

Long-term debt

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter14: Statement Of Cash Flows

Section: Chapter Questions

Problem 32BEB: During 20X2, Evans Company had the following transactions: a. Cash dividends of 6,000 were paid. b....

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SLM, Inc., with sales of $800, has the following balance sheet:

SLM, Incorporated Balance Sheet as of 12/31/X0
Assets		Liabilities and Equity
Accounts receivable	$	200	Trade accounts payable	$	120
Inventory		360	Long-term debt		510
Plant		800	Equity		730
	$	1,360		$	1,360

It earns 9 percent on sales (after taxes) and pays no dividends. Round your answers to the nearest dollar.

Determine the balance sheet entries for sales of $1,400 using the percent of sales method of forecasting.

Accounts receivable: $

Inventory: $

Trade accounts payable: $
Will the firm need external financing to grow to sales of $1,400? If Yes, calculate the amount of external funding required, if No, enter zero.

, the amount of the external funds needed is $ .

Construct the new balance sheet and use newly issued long-term debt to cover a financial deficiency, if any.