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The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Sales $4,800 Assets Costs 3,480 Net $1,320 Total
The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Sales $4,800 Assets Costs 3,480 Net $1,320 Total income Balance Sheet $15,400 Debt Equity $10,900 4,500 $15,400 Total $15,400 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,966. What is the external financing needed? Multiple Choice O O $2,100 O $1,850 O O $2,380 O $1,970 O $2,225
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