Question
The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 7,200 Assets $ 11,700
The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 7,200 Assets $ 11,700 Debt $ 5,100 Costs 6,300 Equity 6,600 Net income $ 900 Total $ 11,700 Total $ 11,700 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $8,424.
1) What will be the amount of total assets next year?
2) What is the external funding requirement for next year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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