The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): Assets

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The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes):

INCOME STATEMENT BALANCE SHEET Sales $14,200 Assets $29,100 Debt $ 6,200 Costs 10,840 Equity 22,900 Net income $ 3,360 Total $29,100 Total $29,100

Assets and costs are proportional to sales; debt and equity are not. No dividends are paid. Next year’s sales are projected to be $16,472. What is the external financing needed?

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Corporate Finance Core Principles And Applications

ISBN: 9781260571127

6th Edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan

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Question Posted: Nov 13, 2020 03:12 AM

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The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): Assets

Question:

INCOME STATEMENT BALANCE SHEET Sales $14,200 Assets $29,100 Debt $ 6,200 Costs 10,840 Equity 22,900 Net income $ 3,360 Total $29,100 Total $29,100

Step by Step Answer:

An increase of sales to 16472 is an increase of Sales increase 16472 142...View the full answer

Corporate Finance Core Principles And Applications

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