Forecast the balance sheet for tortuga based on the assumptions provided and iterate to balance the balance sheet and solve for external funding required. For Capex, tortuga is buying 200 in new assets and depreciating 60. (show excel/sheets formulas)
.
Balance Sheets 2019
2020
2021
2022
Assets Current assets: Cash and securities Accounts receivable Inventories Prepaid expenses Total current assets Net fixed assets Total assets
$603 1,562 006 14 3,078 128 3,206
$464 1,858 1,116 12 3,450 205 3,655
$534 2,207 1,300 15 4,056 325 4,381
$500 2,541 1,977 18 5,035 435 5,470
Liabilities and Owners' Equity Current liabilities: Bank loan Accounts payable Current portion long-term debt Accrued wages Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and owners' equity
$50 1,026 60 28 1,164 850 150 1,043 3,207
$50 929 50 37 1,066 800 150 1,638 3,655
$50 1,025 50 25 1,150 750 150 2,331 4,381
$50 1,235 100 50 1,435 650 150 3,236 5,470
balance
(0)
0
(o)
0
Balance Sheets 2019
Forecast 2023E
2020
2021
2022
Comments
Assets Current assets: Cash and securities Accounts receivable Inventories Prepaid expenses Total current assets Net fixed assets Total assets
$603 1,562 006 14 3,078 128 3,206
$464 1,858 1,116 12 3,450 205 3,655
$534 2,207 1,300 15 4,056 325 4,381
$500 2,541 1,977 18 5,035 435 5,470
16 days sales 60 DSO 6 times turnover hold constant Capex Buy 200 Dep 60 Net 140
Liabilities and Owners' Equity Current liabilities: Bank loan Accounts payable Current portion long-term debt Accrued wages Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and owners' equity
$50 1,026 60 28 1,164 850 150 1,043 3,207
$50 929 50 37 1,066 800 150 1,638 3,655
$50 1,025 50 25 1,150 750 150 2,331 4,381
$50 1,235 100 50 1,435 650 150 3,236 5,470
35 day payables $100 amortization hold constant
BASE
External funding required
Iterate until balance P26=0
