Question
The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income StatementBalance SheetSales$9,500Assets$19,650Debt$6,250Costs$6,570Equity$13,400Net income$2,930Total$9,650Total$19,650 Assets and costs are proportional to
The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes):
Income StatementBalance SheetSales$9,500Assets$19,650Debt$6,250Costs$6,570Equity$13,400Net income$2,930Total$9,650Total$19,650
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $11,400.
What is the external financing needed?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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Investments Analysis and Management
Authors: Charles P. Jones
12th edition
978-1118475904, 1118475909, 1118363299, 978-1118363294
