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The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes): Income Statement Sales 7,600 Costs (4,560) Net income 3,040 Balance
The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes):
Income Statement | |
Sales | 7,600 |
Costs | (4,560) |
Net income | 3,040 |
Balance Sheet | |||
Assets | 24,320 | Debt | 11,500 |
Equity | 12,820 | ||
Total | 24,320 | Total | 24,320 |
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $9,728. 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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