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The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $5,000 Assets $15,000 Debt $10,300
The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $5,000 Assets $15,000 Debt $10,300 Costs 3,390 Equity 4,700 Net income $1,610 Total $15,000 Total $15,000 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,964. What is the external financing needed?
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