Problem 4-3 Calculating EFN [LO2] The most recent financial statements for Camryn, Incorporated, are shown here (assuming no income taxes): Income Statement Balance Sheet $ 6,900 Assets $15,950 Debt 4,360 Equity Net income $ 2,540 Total $ 15,950 Total Sales Costs $ 6,350 9,600 $ 15,950 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $8,418. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Problem 4-3 Calculating EFN [LO2] The most recent financial statements for Camryn, Incorporated, are shown here (assuming no income taxes): Income Statement Balance Sheet $ 6,900 Assets $15,950 Debt 4,360 Equity Net income $ 2,540 Total $ 15,950 Total Sales Costs $ 6,350 9,600 $ 15,950 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $8,418. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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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