In 2022, Inglis Arctic Sports (IAS)had total sales of $35 million.The firm earned $3.00 per share and paid dividends of $1.00 per share.There are 1 million shares currently outstanding.The 2022 year-end balance sheet is shown below:
Inglis Arctic Sports
Consolidated Balance Sheet
(at year end in thousands of dollars)
$In 2022, Inglis Arctic Sports (IAS)had total sales of $35 million.The firm earned $3.00 per share and paid dividends of $1.00 per share.There are 1 million shares currently outstanding.The 2022 year-end balance sheet is shown below: Inglis Arctic Sports Consolidated Balance Sheet (at year end in thousands of dollars) You are a financial analyst with IAS and have been asked to prepare a financial plan for next year.You have been given the following information and projections for 2023 from the marketing and production departments: \bullet Sales are projected to grow by 15.0% in 2023.Cash, accounts receivable, accounts payable and wages payable are expected to grow at the same rate as sales. \bullet New capital expenditures will be $3.75 million for the replacement of a production line. \bullet Depreciation expense of $1,200,000 will be recorded in 2023. \bullet The new more efficient production line is expected to result in an inventory increase of only 7.5% from 2022 levels. \bullet Management would like to achieve a total debt-to-equity ratio of 1.0 in 2023, while keeping long-term debt unchanged from 2022. \bullet Management expects the net profit margin and dividend payout ratios to remain the same as in 2022. Forecast the 2023 balance sheet for IAS.$
You are a financial analyst with IAS and have been asked to prepare a financial plan for next year.You have been given the following information and projections for 2023 from the marketing and production departments:

\bullet

Sales are projected to grow by 15.0% in 2023.Cash, accounts receivable, accounts payable and wages payable are expected to grow at the same rate as sales.

\bullet

New capital expenditures will be $3.75 million for the replacement of a production line.

\bullet

Depreciation expense of $1,200,000 will be recorded in 2023.

\bullet

The new more efficient production line is expected to result in an inventory increase of only 7.5% from 2022 levels.

\bullet

Management would like to achieve a total debt-to-equity ratio of 1.0 in 2023, while keeping long-term debt unchanged from 2022.

\bullet

Management expects the net profit margin and dividend payout ratios to remain the same as in 2022.
Forecast the 2023 balance sheet for IAS.

Voyage Company Is in a Very High Growth Industry While

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