The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): INCOME
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| The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): |
| INCOME STATEMENT | BALANCE SHEET | ||||||||||
| Sales | $ | 8,300 | Assets | $ | 23,200 | Debt | $ | 9,000 | |||
| Costs | 5,490 | Equity | 14,200 | ||||||||
| Net income | $ | 2,810 | Total | $ | 23,200 | Total | $ | 23,200 | |||
| Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $9,545. |
| 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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