Question
The most recent financial statements for Williamson, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 8,400 Assets $ 14,000
| The most recent financial statements for Williamson, Inc., are shown here (assuming no income taxes): |
| Income Statement | Balance Sheet | ||||||||||
| Sales | $ | 8,400 | Assets | $ | 14,000 | Debt | $ | 6,000 | |||
| Costs | 6,390 | Equity | 8,000 | ||||||||
| Net income | $ | 2,010 | Total | $ | 14,000 | Total | $ | 14,000 | |||
| Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $9,996. |
| 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 | $ |
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Financial Management Theory And Practice
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
3rd Canadian Edition
017658305X, 978-0176583057
