Week 2: Chapter 4 Questions Question 1 (of 10) value: 10.00 points The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes): Income Statement Sales $ 6,600 Costs 4,220 Assets Balance Sheet $25,100 Debt Equity $10,100 15,000 Net income $2,380 Total $25,100 Total $25,100 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $7,524. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) External financing needed Hints References eBook & Resources 1 Type here to search