Calculating EFN [LO2] The most recent financial statements tor Zose. Inc., are shown here (assuming no income taxes):
Income Statement | Balance Sheet | ||||
Sales | $ 6,300 | Assets | $ 18,300 | Debt | $ 12,400 |
Costs | 3,890 |
|
| Equity | 5,900 |
Net income | $ 2,410 | Total | $ 18,300 | Total | $ 18,300 |
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year’s sales are projected to be $7,434. What is the external financing needed?
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