Give true answer this financial accounting question The Lory Bookstore used internal financing as a source of long-term financing for 80% ofits total needs in 2011. The company borrowed an additional 27% of its total needs in thelong-term debt markets in 2011.What were Lory's net new stock issues in that year?

Step 1: Define New Issue of StockEquity financing is a costly source of funding and a company…

Answered: The Lory Bookstore used internal…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

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Chapter3: Evaluation Of Financial Performance

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The Lory Bookstore used internal financing as a source of long-term financing for 80% of its total needs in 2011. The company borrowed an additional 27% of its total needs in the long-term debt markets in 2011. What were Lory's net new stock issues in that year?