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Statement of Comprehensive Income For the year ended December 31,2021 Sales Costs Earnings before taxes Income taxes (40%) Costs, assets, and current liabilities are proportional
Statement of Comprehensive Income For the year ended December 31,2021 Sales Costs Earnings before taxes Income taxes (40%) Costs, assets, and current liabilities are proportional to sales, while long-term debt and common shares will remain the same. Sales are projected to increase by 10% in 2022 , while retention ratio will be 60%. Calculate the amount of external financing needed for 2022 . Show your work
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