Question: You are estimating your company's external financing needs for the next year. At the end of the year, you expect that owners' equity will be

You are estimating your company's external financing needs for the next year. At the end of the year, you expect that owners' equity will be $80 million, total assets will amount to $170 million, and total liabilities will be $70 million.

Required:

How much will your firm need to borrow, or otherwise acquire, from outside sources during the year?

a. $20 million

b. $70 million

c. $150 million

d. $160 million

e. $180 million

f. None of the Above

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