Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below.     This year Sales   $ 10,000   Balance Sheet: Liabilities         Accounts payable

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Chapter15: Financial Statement Analysis
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Projected Spontaneous Liabilities

Smiley Corporation's current sales and partial balance sheet are shown below.

 

  This year
Sales   $ 10,000  
Balance Sheet: Liabilities        
Accounts payable   $ 1,500  
Notes payable   $ 3,000  
Accruals   $ 1,600  
    Total current liabilities   $ 6,100  
Long-term bonds   $ 2,000  
    Total liabilities   $ 8,100  
Common stock   $ 2,000  
Retained earnings   $ 3,000  
    Total common equity   $ 5,000  
  Total liabilities & equity   $ 13,100  

 

Sales are expected to grow by 12% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar.

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