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Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes): Sales Income Statement $34,267 Costs $25,842 Assets $53,423 Balance Sheet
Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes): Sales Income Statement $34,267 Costs $25,842 Assets $53,423 Balance Sheet Debt $18,768 Equity ? The company has predicted a sales increase of 9 percent. Assume Fire pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Determine the external financing needed. (Negative amount should be indicated by a minus sign.) (Omit the "$" sign and commas in your response. Enter your answer rounded to 2 decimal places. For example, $1,200.456 should be entered as 1200.46.)
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