Attempts Keep the Highest / 1 3. Problem 12-03 (Projected Spontaneous Liabilities) eBook Problem Walk-Through Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales $10,000 Balance Sheet: Liabilities Accounts payable $ 2,000 Notes payable $ 2,000 Accruals $ 1,000 Total current liabilities $ 5,000 Long-term bonds $ 2,000 Total liabilities $ 7,000 Common stock $ 2,000 Retained earnings $ 2,000 Total common equity $ 4,000 Total liabilities & equity $11,000 Sales are expected to grow by 14% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar. $ Grade it Now Save & Continue