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The most recent financial statements for Marpole Inc., are shown here (assuming no income taxes): Statement of Comprehensive Income Statement of Financial Position Sales $
The most recent financial statements for Marpole Inc., are shown here (assuming no income taxes):
Statement of Comprehensive Income | Statement of Financial Position | ||||||||||
Sales | $ | 6,500 | Assets | $ | 26,500 | Debt | $ | 12,500 | |||
Costs | 4,610 | Equity | 14,000 | ||||||||
Net income | $ | 1,890 | Total | $ | 26,500 | Total | $ | 26,500 | |||
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $7,150.
What is the external financing needed?(Do not round intermediate calculations and round your final answer to 2 decimal places. Omit $ sign in your response.)
External financing needed $
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