Question: Below are the most recent financial statements for CrazyEddie Electronics, (assuming no income taxes): Income Statement Balance Sheet Sales $5,000 Assets $15,000 Debt $10,500 Costs

Below are the most recent financial statements for CrazyEddie Electronics, (assuming no income taxes):

Income Statement Balance Sheet
Sales $5,000 Assets $15,000 Debt $10,500
Costs 3,440 Equity 4,500
Net income

$1,560

Total

$15,000

Total

$15,000

Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,969.

What is the external financing needed?

Multiple Choice

  • $1,045

  • $1,325

  • $915

  • $795

  • $1,170

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