 # Question & Answer: ZYX Inc. shows the following balance sheet as of 12/31/2016 (in US \$ millions): ZYX's financial office anticipates that the income statem….. ZYX Inc. shows the following balance sheet as of 12/31/2016 (in US \$ millions): ZYX’s financial office anticipates that the income statement from 1/1/2017 through 12/31/2017 will show the following figures (US \$ millions): If ZYX’s financial office expectations are fulfilled what will the value of the company’s total assets be as of 12/31/2017. (The possible answers are all in millions of US \$.) ZYX Inc, shows the following balance sheet as of 12/31/2016 (in US \$ millions): ZYX’s financial office anticipates that the income statement from 1/1/2007 through 12/31/2017 will show the following (US \$ millions). If instead of what ZYX’s financial office expects the value of the company’s total assets as of 12/31/2017 turns out to be US \$65 million, what will the 2017 net income be instead? (Type your answer in millions of US \$. Do not write the \$ sign of needless zeros. If the net income is negative a loss” rather than a “profit” lambda then indicate a with a negative sign before the number typed in. If it positive do not type the positive sign Just the number).

What will the value of the company’s total assets be as of 12/31/2017 (Amount in millions?)

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Question & Answer: ZYX Inc. shows the following balance sheet as of 12/31/2016 (in US \$ millions): ZYX's financial office anticipates that the income statem…..
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Solution:

Beginning Total Liabilities              = \$67 millions

Add: Current year Profit                               = \$12 million*

Ending Total Liabilities                    = \$79 million

Since the total asset are equal to total liabilities in balance sheet equation.

Total Assets as of 12/31/2017 = \$79 millions

Note: The Total Assets as of 12/31/2017 value is only an expected figure, because the all information is not given to calculate full balance sheet value.

*Current Year Profit:

Total Revenues                 = \$50

Less:

Cost of goods sold           = (\$22)

Operating Expenses       = (\$10)

Financial Expenses          = (\$4)

Taxes                                    = (\$2)

Net Profit                            = \$12