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Here are the questions that your group is required to answer for Case #1 Clarkson Lumber. You need to number the question you are answering and completely answer the question before starting the next question. Your written answers must not be longer than 5 pages. Work on these as a team so that your answers to question #1 for example will help you to answer question #2. At the start of case day your group’s written answer are due. Points will be deducted if you case is not handed in at the beginning of class. v-,
1. Show me your projected Income Statement and Balance Sheet for Clarkson Lumber for the year ending December 31, Assume that Clarkson does not receive a loan from Northrup National Bank to finance its pure ases of lumber. (40 pts.)
2. Show me your projected Income Statement and Balance Sheet for Clarkson Lumber for the year ending December 31, We). Assume that Clarkson receives a loan from Northrup National Bank up to $750,000 to help finanL its purchases of lumber. (20 pts.)
•”a’ f 3. Should Clarkson Lumber want to fin ance its inventory with the use of trade credits or bank loans, be sure to support your answer? (15 pts.)
gi 4. What is Clarkson’s curititrprotiIt margin on sales? (5 pts.)