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The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes): Income Statement Sales $9,200 Costs 6.430 Assets Balance Sheet $27.000
The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes): Income Statement Sales $9,200 Costs 6.430 Assets Balance Sheet $27.000 Debt Equity $13.000 14.000 Net income $ 2,770 Total $27,000 Total $27.000 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $10,304. What is the external financing needed? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) External financing needed SD
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