Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $9,164. What is the external financing needed?

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The most recent financial statements for Camryn, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $7,900 Assets $22,900 Debt $ 9,100 Costs 5,360 Equity Net income $2,540 Total $22,900 Total 13,800 $22,900 The most recent financial statements for Camryn, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $7,900 Assets $22,900 Debt $ 9,100 Costs 5,360 Equity Net income $2,540 Total $22,900 Total 13,800 $22,900

Answer rating: 100% (QA)

Answer To determine the external financing needed we need to calculate the change in assets and the ... View the full answer