The most recent financial statements for Bison Inc. are shown below: Income Statement Sales $7,600 Costs 5.180 Net Income 2,420 Balance Sheet Assets Liabilities $9.100 Equity 12.600 Total Assets 21,700 Total L & E 21,700 The company is ready to prepare pro-forma financial statements. They are assuming that assets and costs will be proportional to sales but liabilities are not. The company does NOT want to take on additional debt at this time. No dividends are expected to be paid. Next year's sales are projected to increase by 18%. Determine the EFN (External Financing Needed). Round answer to a whole number. $21,700

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Find the external finance needed
The most recent financial statements for Bison Inc. are shown below:
Income Statement
Sales
$7,600
5.180
Net Income 2,420
Costs
Balance Sheet
Assets
Liabilities
Equity
Total Assets
21,700
Total L & E
The company is ready to prepare pro-forma financial
statements. They are assuming that assets and costs will be
proportional to sales but liabilities are not. The company does NOT
want to take on additional debt at this time. No dividends are expected
to be paid. Next year's sales are projected to increase by 18%.
Determine the EFN (External Financing Needed). Round answer to a
whole number.
$21,700
$9.100
12.600
21,700
Transcribed Image Text:The most recent financial statements for Bison Inc. are shown below: Income Statement Sales $7,600 5.180 Net Income 2,420 Costs Balance Sheet Assets Liabilities Equity Total Assets 21,700 Total L & E The company is ready to prepare pro-forma financial statements. They are assuming that assets and costs will be proportional to sales but liabilities are not. The company does NOT want to take on additional debt at this time. No dividends are expected to be paid. Next year's sales are projected to increase by 18%. Determine the EFN (External Financing Needed). Round answer to a whole number. $21,700 $9.100 12.600 21,700
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