Using the selected financial statements for Micro Chip Computer Corporation file # 1. 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 achieved 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 hit its target.
Next, consider Micro Chip’s Consolidated Statement of Operations for the year ended September 25, 2008. Using file #2 answer questions 1 and 2.
1.Use the Percentage Sales Method and a 30% increase in sales to forecast Micro Chip’s Consolidated Statement of Operations for the period of September 26, 2008 through September 25, 2009. Assume a 15% tax rate and restructuring costs of 5% 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 formula and calculations used to arrive at the financial values. Students using Microsoft Excel must provide an adequate explanation of the methodology used to arrive at that answer.
Show all work including calculations and formulas. If applicable, provide a detailed explanation of how you used Microsoft Excel to arrive at your answers.
Organize your answers, mathematical calculations, and Microsoft Excel data into a Word document of 1-2 pages.
Your submitted assignment (120 points) must include the following:
A double-spaced Word document of 1-2 pages that contains your answers to the four questions listed in the assignment description, any calculations you performed, and all formulae that were used. Also, provide your Excel data table(s) along with an explanation of how you arrived at your answers if applicable.
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