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Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $ 10,000 Balance Sheet: Liabilities Accounts payable $

Projected Spontaneous Liabilities

Smiley Corporation's current sales and partial balance sheet are shown below.

This year
Sales $ 10,000
Balance Sheet: Liabilities
Accounts payable $ 2,000
Notes payable $ 1,500
Accruals $ 1,200
Total current liabilities $ 4,700
Long-term bonds $ 2,000
Total liabilities $ 6,700
Common stock $ 1,000
Retained earnings $ 3,000
Total common equity $ 4,000
Total liabilities & equity $ 10,700

Sales are expected to grow by 14% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar.

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