Homework Answers
External financing needed = Current level of Assets*Change in Sales/Current Sales – Current level of Liabilities*Change in Sales/Current Sales – New Sales*Profit Margin*Retention Ratio
= 55,200*5925/23700 – 6975*0.6774
= $9,075.135
i.e. $9.075.14
External financing needed = Current level of Assets*Change in Sales/Current Sales – Current level of Liabilities*Change in Sales/Current Sales – New Sales*Profit Margin*Retention Ratio
= 19650*1900/9500 – 3516
= $414
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