Question
The most recent financial statements for Williamson, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 6,500 Assets $ 23,500
The most recent financial statements for Williamson, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 6,500 Assets $ 23,500 Debt $ 9,500 Costs 4,610 Equity 14,000 Net income $ 1,890 Total $ 23,500 Total $ 23,500 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 answer to the nearest whole number, e.g., 32.) External financing needed $
Income Statement | Balance Sheet | ||||||||||
Sales | $ | 6,500 | Assets | $ | 23,500 | Debt | $ | 9,500 | |||
Costs | 4,610 | Equity | 14,000 | ||||||||
Net income | $ | 1,890 | Total | $ | 23,500 | Total | $ | 23,500 | |||
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