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trying to check my work, thank you. A firm has the following account balances for this year. Sales for the year are $420,000 Projected sales
trying to check my work, thank you.
A firm has the following account balances for this year. Sales for the year are $420,000 Projected sales for next year are $441,000 The percentage of sales approach is used for pro forma purposes. All balance sheet accounts, except lone term debt and common stock, change according to that approach The fim plans to decrease the long-term debt balance by $23,500 next year. Retained earnings is expected to increase by $5,400 next year. What is the projected external financing need? Current assets Net fixed assets Current liabilities Long-term debt 84,000 270,000 56,000 154,000 50,000 91,000 Common stock Retained earnings -$6.850 -$14,150 $56,350 $36.000 $32.850 Step by Step Solution
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