Reference no: EM13298660
The following is the balance sheet for 2003 for Marbell Inc.
Marbell Inc.
Balance Sheet
12/31/2003
Assets Liabilities and Stockholders' Equity
Cash $ 15,000 Accts. Payable $ 90,000
Accts. Rec. 90,000 Notes payable (non-spontaneous) 30,000
Inventory 60,000 Accrued expenses 7,500
Current Assets 165,000 Current Liabilities 127,500
Fixed assets (non-spontaneous) 60,000 Common stock 75,000
Retained earnings 22,500
Total assets $225,000 Total Liabilities + S.E. Equity $225,000
Sales for 2002 were $300,000. Sales for 2003 have been projected to increase by 20%. Assuming that Marbell Inc. is operating below capacity, calculate the amount of new funds required to finance this growth. Marbell has an 8% return on sales and 70% is paid out as dividends.
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