The most recent financial statements for Kerch, Incorporated, are shown here $($assuming

no income taxes$)$:

Assets and costs are proportional to sales. Debt and equity are not. No dividends are

paid. Next year's sales are projected to be $$5,969.$

What is the external financing needed?

Multiple Choice

$$5,490$

$$5,080$

$$4,960$

$$5,210$The most recent financial statements for Cardinal, Incorporated, are shown here:

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $$1,470$

was paid, and the company wishes to maintain a constant payout ratio. Next year's sales

are projected to be $$27,900.$

What is the external financing needed?

Multiple Choice

$$11,797$

$$9,443$

$$175,478$