Question
The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): INCOME STATEMENT BALANCE SHEET Sales $ 6,900 Assets $
The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes):
INCOME STATEMENT BALANCE SHEET Sales $ 6,900 Assets $ 15,950 Debt $ 6,350 Costs 4,360 Equity 9,600 Net income $ 2,540 Total $ 15,950 Total $ 15,950
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $8,418.
What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
External financing needed$
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