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The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes): Income Statement Sales $ 5,400 Costs (3,780 ) Net income
The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes):
Income Statement | ||||||
Sales | $ | 5,400 | ||||
Costs | (3,780 | ) | ||||
Net income | $ | 1,620 | ||||
Balance Sheet | |||||||
Assets | $ | 15,120 | Debt | $ | 10,200 | ||
Equity | 4,920 | ||||||
Total | $ | 15,120 | Total | $ | 15,120 | ||
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $6,534. What is the external financing needed?
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