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I need answer and solution (1 of 10) A company has the following information for the current year: Current assets Noncurrent assets Total assets $42,500
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(1 of 10) A company has the following information for the current year: Current assets Noncurrent assets Total assets $42,500 Current liabilities 224,000 Noncurrent liabilities $266,500 Retained earnings All other equity Total liabilities and equity $24,650 173,200 19,475 49,175 $266,500 Sales revenue is forecasted to grow by 11% next year, forecasted net income is expected to be $30,000, and all current assets and current liabilities vary proportionally with sales. If $45,000 worth of net noncurrent assets are required to be purchased next year, what is the external financing needed? Assume that the company does not pay dividends, and that all noncurrent liabilities and equity (except retained earnings) will be the same level as the current year. $16,785 $16,964 $17,142 $17,32 $17,499Step by Step Solution
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