The most recent financial statements for Marpole Inc., are shown here (assuming no income taxes): Statement of Comprehensive Income Sales Costs Net Income $ 6,700 4,170 $ 2,530 Assets Total Statement of Financial Position Debt $ 22,050 Equity Total $ 22,050 $ $ 8,050 14,000 $22,050 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $7,906 What is the external financing needed? (Do not round intermediate calculations and round your final answer to 2 decimal places.. Omit $ sign in your response.) External financing needed i
The most recent financial statements for Marpole Inc., are shown here (assuming no income taxes): Statement of Comprehensive Income Sales Costs Net Income $ 6,700 4,170 $ 2,530 Assets Total Statement of Financial Position Debt $ 22,050 Equity Total $ 22,050 $ $ 8,050 14,000 $22,050 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $7,906 What is the external financing needed? (Do not round intermediate calculations and round your final answer to 2 decimal places.. Omit $ sign in your response.) External financing needed i
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting
Transcribed Image Text:The most recent financial statements for Marpole Inc., are shown here (assuming no income taxes).
Statement of Comprehensive
Income
Sales
Costs:
Net Income
$ 6,700
4,170
$ 2,530
Assets
Total
Statement of Financial Position
$ 22,050
$ 22,050
Debt
Equity
Total
$ 8,050
14,000
$ 22,050
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be
$7.906
What is the external financing needed? (Do not round intermediate calculations and round your final answer to 2 decimal places.
Omit $ sign in your response.)
External financing needed
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