External Financing Needed
Question # 00767523
Posted By:
Updated on: 06/25/2020 12:12 PM Due on: 07/08/2020
The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes):
Income Statement Balance Sheet
Sales $ 9,300
Assets $ 20,000
Debt $ 8,000
Costs 7,330
Equity 12,000
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year’s sales are projected to be $10,788. 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 $____
-
Rating:
/5
Solution: All Correct Answers 100%