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The most recent financial statements for Crosby, Incorporated, appear below. Sales for 2022 are projected to grow by 30 percent. Interest expense will remain constant;
The most recent financial statements for Crosby, Incorporated, appear below. Sales for 2022 are projected to grow by 30 percent. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 30 percent growth rate in sales? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Answer is complete but not entirely correct
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