09 May HOW MUCH EXTERNAL FINANCING DOES ARI REQUIRE NEXT YEAR.
External Financing ARI has current sales of $50 mil. Sales are expected to grow to $75 mil. next year. ARI currently has accounts receivable of $10 mil inventories of $15 mil and net fixed assets of $20 mil. These assets are expected to grow at the same rate as sales over the next year. Accounts payable are expected to increase from their current level of $10 mil to a new level of $13 mil. next year. ARI wants to increase its cash balance at the end of next year by $2 mil. over its current cash balances which average $4 mil. Net income next year is forecasted to be $10 mil. Next year ARI plans to pay dividends of $1 million up from $500 000 this year. ARI’s marginal tax rate is 34%. How much external financing does ARI require next year. I desperately need help with this problem.
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