The most recent financial statements income taxes): Income Statement Sales Costs Net income $6,700 3,85C $ 2,850 Assets Total Balance Sheet 22,050 Debt 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 answer to the nearest whole number, e.g., 32.) External financing needed

The most recent financial statements income taxes): Income Statement Sales Costs Net income $6,700 3,85C $ 2,850 Assets Total Balance Sheet 22,050 Debt 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 answer to the nearest whole number, e.g., 32.) External financing needed

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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