Edmonds expected Corporation's sales are to increase by 10% from $4.75 million in 2016 to 5.225$ million in 2017. Its assets totaled $3 million at the end of 2016. Edmonds is at full capacity, so its assets must grow in proportion to projected sales. At the end of 2016. current level of liabilities is $0.8 million. Its profit margin is forecasted to be 5%, and the forecasted retention ratio is 30%. External financing needed will be: $141,625 $131,562 $125,782 $189,354

Edmonds expected Corporation's sales are to increase by 10% from $4.75 million in 2016 to 5.225$ million in 2017. Its assets totaled $3 million at the end of 2016. Edmonds is at full capacity, so its assets must grow in proportion to projected sales. At the end of 2016. current level of liabilities is $0.8 million. Its profit margin is forecasted to be 5%, and the forecasted retention ratio is 30%. External financing needed will be: $141,625 $131,562 $125,782 $189,354

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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