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Joe's Pizza, Inc., has the following balance sheet last year: Cash $ 800 Accounts payable $ 350 Accounts receivable 450 Accrued wages 150 Inventory 950

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Joe's Pizza, Inc., has the following balance sheet last year: Cash $ 800 Accounts payable $ 350 Accounts receivable 450 Accrued wages 150 Inventory 950 Notes payable 2,000 Net fixed assets 34,000 Mortgage 26,500 Common stock 3,200 Retained earnings 4.000 $36,200 $36,200 Joe has just invented a fantastic new pizza that he expects to double sales to $80,000, increasing after-tax net income to $3,000. Since most of his business is take-out, he feels he can handle the increase without adding any fixed assets. How much additional funds will Joe need if he pays no dividends? $1,300 -$3,300 $32,700 $1.100

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