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1.Crum Co's balance sheet and income statement for 2001 are given below.The firm expects sales to grow by 50% in 2002.Operating costs, spontaneous liabilities and
1.Crum Co's balance sheet and income statement for 2001 are given below.The firm expects sales to grow by 50% in 2002.Operating costs, spontaneous liabilities and assets will increase in proportion to sales. The company plans to finance any additional funds needed using debt at an interest rate of 10%.What is the company's projected funds needed for 2002?Assume interest expenses are 10% of the beginning year of debt balance.
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