Author Question: Blockbuster is a video rental and retail chain. Blockbuster is forecasting its financial statements ... (Read 229 times)

storky111 · **on:** Apr 25, 2021

Blockbuster is a video rental and retail chain. Blockbuster is forecasting its financial statements for Year 7. Selected financial information for Year 6 is provided in the table. What is long term debt (the plug variable) for the forecasted year? To forecast current liabilities payable use the percentage of sales method based on Year 6 figures. Assume that no dividends are paid in Year 7.

Selected Financial Information

Blockbuster Inc. ($ '000)

	Year 6	Forecast
Revenue	$5,157,600	$5,673,360
Net Income	-240,300	-195,733

TOTAL ASSETS	$7,752,400	$7,746,790
LIABILITIES AND STOCKHOLDERS' EQUITY
Total Current Liabilities	1,268,800
Long Term Debt	734,900
Shareholders' Equity
Common Stock	6,075,800	6,075,800
Retained Earnings	-327,100
Total Shareholders' Equity	5,748,700
Total Liabilities & Shareholders' Equity	$7,752,400

◦ $707,803
◦ $743,168
◦ $793,168
◦ $798,143
◦ $798,988

lgoldst9 · **Reply #1 on:** Apr 25, 2021

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