The most recent financial statements for hornick inc are, Ask an Expert

Accounting

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 $____

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91979559

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