Q9 Networks is a leading provider of outsourced data center infrastructure such as web-servers and data storage. Forecast the financial statements for Q9 Networks for Year 6. Use the percent of sales method based on Year 5 and the assumptions listed below. Please note the ratios to sales provided in the table which are useful for making the forecast. Forecast the financial statements for Q9. What is the change in the cash account from Year 5 to Year 6?
Sales growth of 20%. The cost of debt is 4%. The Tax rate is 35%. The depreciation rate is 5%. CAPEX is $4,000,000. Cash is the plug account. The following accounts are held constant: Long-term debt and Common Stock. No dividends are paid in Year 6.
| Income Statement and Balance Sheet |
| As of December 31, Year 5 ($ 000s) |
| | Year 5 | Ratios | Year 6 |
| Revenue | $37,829 | | $45,395 |
| COGS | 25,840 | 0.683074 | |
| SG&A | 11,163 | | |
| Dep. Exp. | 535 | | |
| EBIT | 291 | | |
| Int. Exp. | 136 | | |
| EBT | 155 | | |
| Provision for Income Taxes | 55 | | |
| Net Income | 100 | | |
| Assets | Year 5 | | Year 6 |
| Cash | 71,301 | | |
| Other Current Assets | 5,046 | 0.133390 | |
| Total Current Assets | 76,347 | | |
| PP&E | 36,757 | | |
| Total Assets | 113,104 | | |
| Liabilities & Stockholders' Equity | | | |
| Total Current Liabilities | 7,688 | 0.203230 | |
| Long-Term Debt | 4,091 | | 4,091 |
| Total Liabilities | 11,779 | | |
| Shareholders' Equity | | | |
| Common Stock | 178,328 | | 178,328 |
| Retained Earnings | -77,003 | | |
| Total Owners Equity | 101,325 | | |
| Total Liabilities and Owners Equity | 113,104 | | |
◦ $2.292 million
◦ $1.301 million
◦ -$2.220 million
◦ -$6.702 million
◦ -$7.081 million
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