problem: The CFO of IPOD Accessories, Inc. has asked for help in estimating the company's additional financing needed for next year. The CFO has provided following data to help you with your task:
[A] Current liabilities will increase by 30 percent of increase in sales
[B] Net income is projected to equal $125,000
[C] Sales are forecasted to increase by $450,000
[D] Total assets will increase by 80 percent of increase in sales
[E] Projected dividend payments will equal $35,000