BARCELONA, JOYCE ANN A.

FMA-3A

ACTIVITY 3: FINANCIAL PLANNING AND FORECASTING

Morrissey Technologies Inc. Projected Financial Statements

Balance Sheet:
2019 2020
Cash P180,000 P198,000
Receivables 360,000 396,000
Inventories 720,000 792,000
Total current assets P1,260,000 P1,386,000
Fixed Assets 1,440,000 1,584,000
Total assets P2,700,000 P2,970,000

Accounts Payable P360,000 P396,000

Notes Payable 156,000 284,783
Accrued Liabilities 180,000 198,000
Total current liabilities P696,000 P878,783
Common Stock 1,800,000 1,800,000
Retained Earnings 204,000 291,217
Total Liabilities and Equity P2,700,000 P2,970,000

TOTAL AFN P128,783

Notes Payable +156,000
NP New =P284,783

Income Statement:
2019 2020
Sales P3,600,000 P3,960,000
Operating Costs 3,279,720 3,607,692
EBIT P320,280 P352,308
Interest 20,280 20,280
EBT P300,000 P332,028
Taxes (40%) 120,000 132,811
Net income P180,000 P199,217
Per Share Data:
Common stock price P24.00
Earnings per share (EPS) P1.80 P1.99
Dividends per share (DPS) P1.08 P1.12

Dividends P108,000 P112,000

Addition to Retained Earnings P72,000 P87,217

JOYCE ANN A. BARCELONA