Pro forma balance sheet peabody & peabody has 2015 sales of $10 million. itwishes to analyze expected performance and financing needs for 2017, which is2 years ahead. given the following information, respond to parts a and b.(1) the percents of sales for items that vary directly with sales are as follows: accounts receivable, 12%inventory, 18%accounts payable, 14%net profit margin, 3%(2) marketable securities and other current liabilities are expected to remainunchanged.(3) a minimum cash balance of $480,000 is desired.(4) a new machine costing $650,000 will be acquired in 2016, and equipmentcosting $850,000 will be purchased in 2017. total depreciation in 2016 isforecast as $290,000, and in 2017 $390,000 of depreciation will be taken.(5) accruals are expected to rise to $500,000 by the end of 2017.(6) no sale or retirement of long-term debt is expected.(7) no sale or repurchase of common stock is expected.(8) the dividend payout of 50% of net profits is expected to continue.(9) sales are expected to be $11 million in 2016 and $12 million in 2017.(10) the december 31, 2015, balance sheet follows.(3) a minimum cash balance of $480,000 is desired.(4) a new machine costing $650,000 will be acquired in 2016, and equipmentcosting $850,000 will be purchased in 2017. total depreciation in 2016 isforecast as $290,000, and in 2017 $390,000 of depreciation will be taken.(5) accruals are expected to rise to $500,000 by the end of 2017.(6) no sale or retirement of long-term debt is expected.(7) no sale or repurchase of common stock is expected.(8) the dividend payout of 50% of net profits is expected to continue.(9) sales are expected to be $11 million in 2016 and $12 million in 2017.(10) the december 31, 2015, balance sheet follows. peabody & peabody balance sheet december 31, 2015 ($000)assets liabilities and stockholders’ equitycash $ 400 accounts payable $1,400marketable securities 200 accruals 400accounts receivable 1,200 other current liabilities 80inventories 1,800 total current liabilities $1,880total current assets $3,600 long-term debt 2,000net fixed assets 4,000 total liabilities 3,880total assets $7,600 common equity 3,720 total liabilities and stockholders’ equity $7,600a. prepare a pro forma balance sheet dated december 31, 2017.b. discuss the financing changes suggested by the statement prepared in part a.

Which certificate is the lowest level certification that a personal finance manager requires to sell mutual funds, trusts, and variable annuities? a. series 2 b. series 6 c. series 5 d. series 7 e. series 8

The following accounts appeared in recent financial statements of delta air lines. identify each account as either a balance sheet account or an income statement account. for each balance sheet account, identify it as an asset, a liability, or stockholders' equity. for each income statement account, identify it as a revenue or an expense. item financial statement type of account accounts payable balance sheet advanced payments for equipment balance sheet air traffic liability balance sheet aircraft fuel (expense) income statement aircraft maintenance (expense) income statement aircraft rent (expense) income statement cargo revenue income statement cash balance sheet contract carrier arrangements (expense) income statement flight equipment balance sheet frequent flyer (obligations) balance sheet fuel inventory balance sheet landing fees (expense) income statement parts and supplies inventories balance sheet passenger commissions (expense) income statement passenger revenue income statement prepaid expenses income statement taxes payable balance sheet

“wonderful! not only did our salespeople do a good job in meeting the sales budget this year, but our production people did a good job in controlling costs as well,” said kim clark, president of martell company. “our $11,150 overall manufacturing cost variance is only 3% of the $1,536,000 standard cost of products made during the year. that’s well within the 3% parameter set by management for acceptable variances. it looks like everyone will be in line for a bonus this year.” the company produces and sells a single product. the standard cost card for the product follows: standard cost card—per unit direct materials, 4.00 feet at $4.00 per foot $ 16.00 direct labor, 1.1 direct labor-hours at $13 per direct labor-hour 14.30 variable overhead, 1.1 direct labor-hours at $2.40 per direct labor-hour 2.64 fixed overhead, 1.1 direct labor-hours at $6.50 per direct labor-hour 7.15 standard cost per unit $ 40.09the following additional information is available for the year just completed: a. the company manufactured 20,000 units of product during the year.b. a total of 77,000 feet of material was purchased during the year at a cost of $4.25 per foot. all of this material was used to manufacture the 20,000 units. there were no beginning or ending inventories for the year.c. the company worked 24,000 direct labor-hours during the year at a direct labor cost of $12.50 per hour.d. overhead is applied to products on the basis of standard direct labor-hours. data relating to manufacturing overhead costs follow: denominator activity level (direct labor-hours) 19,000 budgeted fixed overhead costs $ 123,500 actual variable overhead costs incurred $ 64,800 actual fixed overhead costs incurred $ 120,900required: 1. compute the materials price and quantity variances for the year. (round standard price and actual price to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero 2. compute the labor rate and efficiency variances for the year. (round standard rate and actual rate to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero 3. for manufacturing overhead compute: a. the variable overhead rate and efficiency variances for the year. (round standard rate and actual rate to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero b. the fixed overhead budget and volume variances for the year. (indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero