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Need help with this question. See attached balance sheet. Chapter 14 -- Financial Forecasting United Health Products has the following balance sheet: Current Accounts assets
Need help with this question. See attached balance sheet.
Chapter 14 -- Financial Forecasting United Health Products has the following balance sheet: Current Accounts assets $5,000 payable Notes payable $1,000 Net fixed Long-term assets $5,000 debt Common equity $4,000 $1,000 $4,000 Total liabilities Total assets $10,000 and equity $10,000 Business has been slow; therefore, fixed assets are vastly underutilized. Management believes it can double sales next year with the introduction of a new product. No new fixed assets will be required, and management expects that there will be no earnings retained next year. What is next year's external financing requirementStep by Step Solution
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