The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): INCOME STATEMENT BALANCE SHEET Sales $ 6,600 Assets $ 25,100 Debt $ 10,100 Costs 4,220 Equity 15,000 Net income $ 2,380 Total $ 25,100 Total $ 25,100 Assets and costs are proportional to sales; debt and equity are not. No dividends are paid. Next year’s sales are projected to be $7,524. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places
The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): INCOME STATEMENT BALANCE SHEET Sales $ 6,600 Assets $ 25,100 Debt $ 10,100 Costs 4,220 Equity 15,000 Net income $ 2,380 Total $ 25,100 Total $ 25,100 Assets and costs are proportional to sales; debt and equity are not. No dividends are paid. Next year’s sales are projected to be $7,524. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places
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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Problem 3-8 Calculating EFN
| The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): |
| INCOME STATEMENT | |||||||||||
| Sales | $ | 6,600 | Assets | $ | 25,100 | Debt | $ | 10,100 | |||
| Costs | 4,220 | Equity | 15,000 | ||||||||
| Net income | $ | 2,380 | Total | $ | 25,100 | Total | $ | 25,100 | |||
| Assets and costs are proportional to sales; debt and equity are not. No dividends are paid. Next year’s sales are projected to be $7,524. |
| What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places |
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