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Week 3-Assignment-Pro Forma Statements The Landis Corporation A.) ( ) Spontaneous Assets = 5% + 15% + 25% + 40% = 85% Spontaneous Liabilities = 15% + 10% = 25% RNF = ( ) ( ) = .85 ($15 million) - .25 ($15 million) - .06 ($115) (1 -.5) = $12.75 million - $3.75 million - $3.45 million = $5.55 million B.) An increase in Landis Corporation’s payout ratio will reduce the company’s retained earnings and profit margin, and therefore will increase its need for external funding. A reduction in its payout ratio will allow the company to retain more of its earnings and decrease its need for external funding. Therefore the profit margin for Landis Corporation will increase, thus increasing its ability to finance its assets and cover its short-term debts. C.)...

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