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Gulf Controls, Inc., has a net profit margin of 10 percent and earnings after taxes

16 / 01 / 2019 Research Papers

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6. Tarheel Furniture Company is planning to establish a wholly owned subsidiary to manufacture… 1 answer below » 6. Tarheel Furniture Company is planning to establish a wholly owned subsidiary to manufacture upholstery fabrics. Tarheel expects to earn $1 million after taxes on the venture during the first year. The president of Tarheel wants to know what the subsidiary’s balance sheet would look like. The president believes that it would be advisable to begin the new venture with ratios that are similar to  the industry average. Tarheel plans to make all sales on credit. All calculations assume a 365-day   year. In your computations, you should round all View complete question » 6. Tarheel Furniture Company is planning to establish a wholly owned subsidiary to manufacture upholstery fabrics. Tarheel expects to earn $1 million after taxes on the venture during the first year. The president of Tarheel wants to know what the subsidiary’s balance sheet would look like. The president believes that it would be advisable to begin the new venture with ratios that are similar to  the industry average. Tarheel plans to make all sales on credit. All calculations assume a 365-day   year. In your computations, you should round all numbers to the nearest    $1,000. Based upon the industry average financial ratios presented here, complete the projected balance sheet for Tarheel’s upholstery subsidiary. Industry  Averages Current ratio                                                         2:1 Quick ratio                                                            1:1 Net  profit  margin ratio                                           5% Average collection period                                         20 days Debt ratio                                                              40% Total asset turnover  ratio                                        2 times Current  liabilities/stockholders’ equity                       20% Cash Forecasted Upholstery Subsidiary Balance Sheet Total current liabilities Accounts receivable                   Inventory                                              Total current assets                                   Net fixed assets Total assets Long-term debt Total debt Stockholders’ equity Total liabilities and stockholders’  equity INTERMEDIATE INTERMEDIATE View less » Jan 07 2016 10:51 AM


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