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The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes) Income Statement Sales Costs Balance Sheet $ 8,400 Assets $14,000
The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes) Income Statement Sales Costs Balance Sheet $ 8,400 Assets $14,000 Debt $ 6,000 Equity8,000 Net income 2,010 Total $14,000 $14,000 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $9,996. 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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