5 5 7 8 9 20 21 The most recent financial statements for Hornick, Inc., are...

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5 5 7 8 9 20 21 The most recent financial statements for Hornick, Inc., are shown below (assuming no income taxes). Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $8,968. What is the external financing needed? Income statement Sales Costs Net income $ Next year's sales $ Percent increase in sales 7,600 5,180 2,420 Sales Costs Net income 8,968 Pro forma income statement. Assets $ Complete the following analysis. Do not hard code values in your calculations. Total $ Assets Balance sheet 21,700 Debt Equity 21,700 Total $ Total $ Pro forma balance sheet Debt Equity Total 9,100 12,600 21,700 5 5 7 8 9 20 21 The most recent financial statements for Hornick, Inc., are shown below (assuming no income taxes). Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $8,968. What is the external financing needed? Income statement Sales Costs Net income $ Next year's sales $ Percent increase in sales 7,600 5,180 2,420 Sales Costs Net income 8,968 Pro forma income statement. Assets $ Complete the following analysis. Do not hard code values in your calculations. Total $ Assets Balance sheet 21,700 Debt Equity 21,700 Total $ Total $ Pro forma balance sheet Debt Equity Total 9,100 12,600 21,700

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