Author Question: Polaris Industries produces a wide range of outdoor leisure vehicles including all-terrain vehicles ... (Read 32 times)

Destiiny22 · **on:** Apr 25, 2021

Polaris Industries produces a wide range of outdoor leisure vehicles including all-terrain vehicles (ATV's), motorcycles, and snowmobiles. Use the equation approach and Polaris' financial statement for Year 5 to calculate additional funds needed (AFN) in Year 6. Assume that sales in Year 6 will be $1.803494 billion. Assume a 0% dividend payout rate.

Polaris Industries Inc.

Income Statement and Balance Sheet

As of December 31, Year 5 ($000s)

Revenue	$ 1,908,459
COGS	1,454,374
SG&A	213,114
Dep. Exp.	28,632
EBIT	212,339
Int. Exp.	4,713
Income Before Tax	207,626
Income Taxes	64,348
Net Income	$ 143,278
ASSETS
Cash	$ 19,675
Accounts Receivable	354,313
Total current assets	373,988
PP&E	222,336
Goodwill	172,632
Total Assets	$ 768,956
LIABILITIES AND OWNERS EQUITY
Total Current Liabilities	381,299
Long Term Debt	18,000
Total Liabilities	$ 399,299
Owners Equity
Common Stock	417
Retained Earnings	369,240
Total Owners Equity	369,657
Total Liabilities and Owners Equity	$ 768,956

◦ -$135 million
◦ -$139 million
◦ -$146 million
◦ -$155 million
◦ $132 million

frogdreck123456 · **Reply #1 on:** Apr 25, 2021

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