Outlaws is a general goods retail chain in the High Plains region. Outlaws 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 calculate forecasted current liabilities use the percentage of sales method based on Year 6 figures. Assume that no dividends are paid in Year 7.
Selected Financial Information
Outlaws Inc ($ millions)
Year 6 Forecast
Revenue $29,210 $30,817
Net Income $627 $685
TOTAL ASSETS $14,700 $14,645
LIABILITIES AND STOCKHOLDERS' EQUITY
Total Current Liabilities 3,651
Long Term Debt 4,208
Shareholders' Equity
Common Stock 1,192 1,192
Retained Earnings 5,089
Total Shareholders' Equity 6,281
Total Liabilities & Shareholders' Equity 14,700
A) $3,859
B) $3,336
C) $3,827
D) $6,397
E) $10,236
C
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