Prepare pro forma financial statements for Aquatic Supplies for 2018 assuming that long-term debt and interest expense remain at their 2017 levels.
Project Problem One: Please find attached the 2017 financial statements for Aquatic Supplies Co. Also appearing are management’s forecasts for how individual financial statement items will vary in the future. The company expects sales to grow 12% next year. Aquatic Supplies finances all of its needs with 10-year long-term debt at 10% interest. a. Prepare […]