Calculating EFNThe most recent financial statements for Williamson, Inc., are shown here (assuming no income taxes):

Income Statement Balance Sheet

Sales $8,300 Assets $19,100 Debt $8,400

Costs 6,490 Equity $10,700

Net income $ 1,810 Total $19,100 Total $19,100

Assets and costs are proportional to sales; debt and equity are not. No dividends are paid. Next years sales are projected to be $9,462. What is the external financing needed?

To receive full credit you must solve this problem using excel and include the solution in Income Statement and Balance Sheet format.