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The most recent financial statements for Camryn, Incorporated, are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 9,500 Assets $ 19,650
The most recent financial statements for Camryn, Incorporated, are shown here (assuming no income taxes): |
Income Statement | Balance Sheet | ||||
---|---|---|---|---|---|
Sales | $ 9,500 | Assets | $ 19,650 | Debt | $ 6,250 |
Costs | 6,570 | Equity | 13,400 | ||
Net income | $ 2,930 | Total | $ 19,650 | Total | $ 19,650 |
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $11,400. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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