The most recent financial statements for Camryn, Incorporated, are shown here (assuming no income taxes): Income Statement Sales Costs $6,500 4,610 Balance Sheet Assets $23,500 Debt Equity $ 9,500 14,000 Net income $1,890 Total $ 23,500 Total $ 23,500 es Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $7,150. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) External financing needed
The most recent financial statements for Camryn, Incorporated, are shown here (assuming no income taxes): Income Statement Sales Costs $6,500 4,610 Balance Sheet Assets $23,500 Debt Equity $ 9,500 14,000 Net income $1,890 Total $ 23,500 Total $ 23,500 es Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $7,150. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) External financing needed
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
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:The most recent financial statements for Camryn, Incorporated, are shown here
(assuming no income taxes):
Income Statement
Sales
Costs
$6,500
4,610
Balance Sheet
Assets $23,500 Debt
Equity
$ 9,500
14,000
Net income $1,890 Total $ 23,500 Total
$ 23,500
es
Assets and costs are proportional to sales. Debt and equity are not. No dividends are
paid. Next year's sales are projected to be $7,150. What is the external financing
needed? (Do not round intermediate calculations and round your answer to 2 decimal
places, e.g., 32.16.)
External financing needed
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