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The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 8,200 Assets $ 24,600
The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes): |
Income Statement | Balance Sheet | ||||||||||
Sales | $ | 8,200 | Assets | $ | 24,600 | Debt | $ | 12,000 | |||
Costs | 5,860 | Equity | 12,600 | ||||||||
Net income | $ | 2,340 | Total | $ | 24,600 | Total | $ | 24,600 | |||
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $9,102. |
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 | $ |
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