Tech Innovations Inc. used internal financing for 75% of its total financing needs in 2016. The company borrowed an additional 20% of its total needs through long-term debt. How much new stock did Tech Innovations issue in 2016?

Tech Innovations Inc. used internal financing for 75% of its total financing needs in 2016. The company borrowed an additional 20% of its total needs through long-term debt. How much new stock did Tech Innovations issue in 2016?

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter11: Investment Planning

Section: Chapter Questions

Problem 7FPE: Using the Value Line Investment Survey report in Exhibit 11.5, find the following information for...

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Question

Could you please answer the financial accounting question?

Tech Innovations Inc. used internal financing for 75% of its total
financing needs in 2016. The company borrowed an additional 20%
of its total needs through long-term debt. How much new stock did
Tech Innovations issue in 2016?

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Financial accounting