Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,963.

What is the external financing needed?

The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Sales $4,400 Assets Costs 3,420 Net $980 Total income Balance Sheet $15,300 Debt Equity $10,300 5,000 $15,300 Total $15,300 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,963. What is the external financing needed? Multiple Choice $4,387 $3,857