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At year-end 2011, total assets for Ambrose Inc. were $1.9 million and accounts payable were $340,000. Sales, which in 2011 were $2.5 million, are expected to increase by 20% in 2012. Total assets and accounts payable are proportional to sales, and that relationship will be maintained; that is, they will grow at the same rate as sales. Ambrose typically uses no current liabilities other than accounts payable. Common stock amounted to $415,000 in 2011, and retained earnings were $245,000. Ambrose plans to sell new common stock in the amount of $140,000. The firm's profit margin on sales is 6%; 50% of earnings will be retained.
1. What was Ambrose's total debt in 2011? Round your answer to the nearest cent.
2. How much new long-term debt financing will be needed in 2012? Round your answer to the nearest cent. (Hint: AFN - New stock = New long-term debt.)
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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