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The most recent financial statements for Kerch, Inc, are shown here (assuming no income taxes): Income Statement Sales 6,000 Balance Sheet $8,500Assets $19,500 Deb $6,200
The most recent financial statements for Kerch, Inc, are shown here (assuming no income taxes): Income Statement Sales 6,000 Balance Sheet $8,500Assets $19,500 Deb $6,200 Equity 13,300 Net income $2,500 $19,500 T $19,500 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $10,115 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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