Calculating EFN The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes):
Income Statement |
| Balance Sheet | |||
Sales | $5,700 | Assets | $14,100 | Debt | $ 6,300 |
Costs | 3,820 |
| _____ | Equity | 7,800 |
Net income | $1,880 | Total | $14,100 | Total | $14,100 |
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year’s sales are projected to be $6,669. What is the external financing needed?
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