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Balance Sheet ($ 000 Millions) Assets 2010 Liabilities and Owners' Equity 2010 Current Assets Current Liabilities Cash 300 Accounts Payable 300 Accounts Receivable 250 Notes

Balance Sheet ($ 000 Millions)

Assets

2010

Liabilities and Owners' Equity

2010

Current Assets

Current Liabilities

Cash

300

Accounts Payable

300

Accounts Receivable

250

Notes Payable

500

Inventory

700

Total Current Liabilities

800

Total Current Assets

1250

Long-Term Liabilities

Long-Term Debt

450

Fixed Assets

Total Long-Term Liabilities

450

Net Fixed Assests

900

Owners' Equity

Common Stock ($1 Par)

400

Retained Earnings

500

Total Owners' Equity

900

Total Assets

2,150

Total Liab. and Owners' Equity

2,150

Income Statement ($ in Millions)

2010

Sales

2,100

Cost of Goods Sold

1,500

Taxable Income

600

Taxes

150

Net Income

450

Dividends

100

Addition to Retained Earnings

300

Assuming that the current Sales revenue for 2010 is expected to increase by 30%, and all other figures remain constant, reconstruct the Balance sheet and Income Statements. Also, determine if there would be a need for external financing.

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