FINANCE-LOS ANGELES—Tanya York produced her first film at 19.

Against Long OddsLOS ANGELES—Tanya York produced her first film at 19. Since then she produced hundreds of films with her company York Entertainment (York York’s company has become an urban powerhouse and distributes its titles under the York Urban, York Latino, and York En Espanol labels. Says York, “I’m Jamaican myself, so I can kind of relate to being a minority in a world where so much is aimed at the majority, so, I’m that I’m happy to be able to offer films with an urban appeal.”York insists that the business and accounting side of production is as important as the artistic side. “With producing you’re involved in all aspects of the entertainment industry,” she says, “the creative side as well as the business side.” York knows that attention to financial statements and know-how of the accounting system of debits and credits is crucial to success. An understanding of the accounting detail enabled York to assess and enhance her company’s profitability and financial position.York relies on the financial numbers in devising strategies to enhance income. At same time, she does not lose sight of giving the public what they want. Adds York, “I don’t see my job as changing the public [demands].” Instead she fulfills them. This includes filling her movies with stars like Ice T, kurupt, Destiney’s Child, Kool Mo Dee, and Mac 10.York continues to grow her company. With revenues near $20 million, she shows a keen understanding of accounting information in making good business decisions. Still, she insists anyone can use suck information in a business to achieve similar success. “I came to America and though hard work built a company.”Without a doubt. Tanya York has not only tasted success but is living it. Adds York, “I like to always have new challengeds in front of me.”Assume that Tanya of York Entertainment wants to grow company revenues by 10% each year for the next five years. York has determined that achieving that revenue growth will require additional financing. Accordingly, the company has sought and been offered a $5 million line of credit by a Los Angeles bank to help fund current operations and new movie projects. York is not required to use the like of credit, but it does have preapproval to use the line of credit as needed. If the line of credit is used, an annual interest rate of 8% will be charged on the money borrowed.Required1-What will York’s annual revenues be in five years if the revenue growth target rate is achieved?2-If York decides to borrow against the line of credit, what must it do to successfully employ financial leverage?



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