Question
The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes): Income Statement Sales $5,200 Costs 3,432 Net income $1,768 Balance
The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes): Income Statement Sales $5,200 Costs 3,432 Net income $1,768 Balance Sheet Assets $15,600 Debt $8,000 Equity 7,600 Total $15,600 Total $15,600 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $6,500. What is the external financing needed? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to the nearest whole number.)
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