Question
The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): INCOME STATEMENT BALANCE SHEET Sales $9,200 Assets $27,000 Debt
The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes):
INCOME STATEMENT BALANCE SHEET
Sales $9,200 Assets $27,000 Debt $13,000
Costs6,430 Equity14,000
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 $_______
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