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Refer to the preceding income statement and balance sheet for Dolphin, Inc. to answer the following questions. Dolphin is a $600 million event promotion company that operates with a 30 percent operating tax rate.
You are evaluating making an equity investment in Dolphin, and you want to develop a set of forecasted financial statements. As a start, analyze the historical Income Statement and Balance Sheet of Dolphin for the prior and current year by filling in the blanks in the following table. Insert the description of the typical analytical metric as well as the resulting calculation. Use percent instead of days for the working capital items. Some of the information has already been inserted for you. (8 Points)
Using the results calculated in the prior question, and assuming that the current year trends continue for the next year, fill in the blanks in the following table to project the Income statement, balance sheet items and cash flow for the first year forecast. (14 points)