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Micro Chip Computer Corporation Consolidated Statements

Resolved Question:

Micro Chip Computer Corporation
Consolidated Statements of Operations For the period September 26, 2007 through September 25, 2008 Sales

Sales $8,334.00
Cost of Sales $5,458.00
Gross Margin $2,876.00
Operating expenses:
R & D $525.00
Selling, General, and Administrative $691.00
In-process R & D ---------
Restructuring costs ---------
Total Operating Exp $1,216.00
Operating income $1,660.00
Total interest and other Income net $194.00
Income before provision for Income taxes $1,854.00
Provision for income Taxes (15%) $278.10
Net income $1,575.90

Answer questions 1 and 2 below based on the financial data.
1. Determine the year-to-year percentage annual growth in total net sales.
2. Based only on your answers to question #1, do you think the company will hit its sales goal of +10% annual revenue growth in 2009? Determine the target revenue figure, and explain why you do or do not feel that the company can hit this target.
Submitted: 5 years ago.
Category: Homework
Customer: replied 5 years ago.
Their are two parts to this question, I will need your email address to send you the attached chart to answer the last two questions. The chart is in PDF format so I could not include.
Expert:  Manal Elkhoshkhany replied 5 years ago.

Hello robbies

 

I just wanted to explain something so that you do not think I have abandoned you. I have answered the question you have posted and I have full addressed the requirements. If there were other parts to the question, you should have noted that when you first posted the question because experts decide whether or not to work on the questions posted based on whether or not they feel qualified to answer the post and also based on the amount offered. I have sent you a message through management to advise you of that. If you have additional parts pertaining to this question, please make a new post and post those questions. Also, it is against Just Answer policy to exchange personal information with students (such as email addresses and phone numbers), but you can either upload the chart to www.mediafire.com (then copy & paste the share link here)or email the chart to info@justanswer.com and ask them to forward the message to BusinessTutor.

 

Finally, please note that Amol is no longer with Just Answer so he will not be able to help

 

Thank you

Expert:  Manal Elkhoshkhany replied 5 years ago.
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Manal Elkhoshkhany, Tutor
Category: Homework
Satisfied Customers: 9483
Experience: More than 5000 online tutoring sessions.
Manal Elkhoshkhany and 4 other Homework Specialists are ready to help you
Customer: replied 5 years ago.
For selected financial statements for Micro Chip Computer Corporation click here . Answer questions 1 and 2 below based on the financial data.
  1. Determine the year-to-year percentage annual growth in total net sales.
  2. Based only on your answers to question #1, do you think the company will hit its sales goal of +10% annual revenue growth in 2009? Determine the target revenue figure, and explain why you do or do not feel that the company can hit this target.
  • This is the other half... I emailed the chart toXXX@XXXXXX.XXX

Next, consider Micro Chip's Consolidated Statement of Operations for the year ended September 25, 2008 (click here to download) and answer questions 1 and 2.

  1. Use the Percentage Sales Method and a 20% increase in sales to forecast Micro Chip's Consolidated Statement of Operations for the period September 26, 2007 through September 25, 2008. Assume a 15% tax rate and restructuring costs of 2% of the new sales figure.
  2. Discuss your results from question number #1. What assumptions have you made? Do any of your assumptions seem unreasonable?

To receive full credit on this assignment, please show all work, including formulae and calculations used to arrive at financial values. Students who are using Excel must provide an adequate explanation of the methodology used to arrive at that answer.

Customer: replied 5 years ago.
For selected financial statements for Micro Chip Computer Corporation click here . Answer questions 1 and 2 below based on the financial data.
  1. Determine the year-to-year percentage annual growth in total net sales.
  2. Based only on your answers to question #1, do you think the company will hit its sales goal of +10% annual revenue growth in 2009? Determine the target revenue figure, and explain why you do or do not feel that the company can hit this target.
  • This is the other half... I emailed the chart toXXX@XXXXXX.XXX

Next, consider Micro Chip's Consolidated Statement of Operations for the year ended September 25, 2008 and answer questions 1 and 2.Use the Percentage Sales Method and a 20% increase in sales to forecast Micro Chip's Consolidated Statement of Operations for the period September 26, 2007 through September 25, 2008. Assume a 15% tax rate and restructuring costs of 2% of the new sales figure.

  1. Discuss your results from question number #1. What assumptions have you made? Do any of your assumptions seem unreasonable?

To receive full credit on this assignment, please show all work, including formulae and calculations used to arrive at financial values. Students who are using Excel must provide an adequate explanation of the methodology used to arrive at that answer.

Customer: replied 5 years ago.
I do not wish to pay for the same question twice and that is what I am being ask to do . However no sweat...Thank You for informing me that AMOL is no longer available

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