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You are the head of the Huffman Trucking accounting department. The chief executive officer (CEO) has asked you to prepare a financial report addressing long-term financial needs.
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Resource: Virtual Organizations
Examine financial information for Huffman Trucking, within the Virtual Organization web link located on the course materials page. Read the New Strategic Directions Memo. Calculate external funds needed (EFN) to create the pro forma balance sheet. Calculate the following year-end ratios for the pro forma statements:
· Profit as a percentage of sales
· Current ratio
· Asset ratio
Prepare a 500- to 850-word financial report for the CEO containing the EFN calculation, the ratio calculations, and an explanation of how you reached the calculations. Explain which income statement and balance sheet items you assumed were variable instead of fixed.
Format your paper consistent with APA guidelines.
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