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Solution Library
Report Addressing Total Assets Projection
Question
Rick Small is the President of BIG MAN CLEANERS INC. (BCMI) which operates in a chain of dry cleaning outlets in Manitoba. BMCI would like to expand to Saskatchewan. Rick took BMCI public two years ago with this growth in mind. A board of Directors exists and has given direction that BMCI maintain growth rate of 4%per year, a debt-to-equity ratio of 0.26 and a dividend-payout-ratio of 40%. Profit Margin is 10% and next year’s sales are projected at $500 million. BMCI follows the objective of maximizing sales growth.
Rick is preparing for a meeting of Board of Directors and is compiling notes in preparation. One of the Board of Directors is an Accountant and has been concerned with the Asset Projection that was part of Rick’s planning for the growth expansion. Rick wants to understand the relationship between BMCI’S growth plan and shareholders objectives.
Required: Assist Rick in his preparation for his meeting. In Particular, your submission should calculate Total Assets to be part of projection (in order to answer the accountant’s concern). You will also want to assess whether maximizing growth is always consistent with the shareholders objective and can a firm always achieve this objective if they are at the desired financial relationships for payout, debt to equity and asset structure.
For you answer utilize a case format of
1. Problem Statement
2. Issues
3. Alternatives & analysis and
4. Recommendations / conclusion
Total Word Count 361
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