True or False

1. The addition to present retained earnings for the financial planning period is equal to projected net income - cash dividends. 2. In 2004, TimeNow Corporation had current assets of $260 and current liabilities of $180. In 2003, current assets were $220 and current liabilities were $160. The change in net working capital for Time Now in 2004 is $20. 3. In the financial planning model, external funds needed (EFN) is equal to changes in assets - (liabilities - equity). 4. The percentage of sales method requires that all accounts grow at the same rate TEM