Question: PLEASE SHOW YOUR WORK IN EXCEL Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year $10,000 Sales Balance
PLEASE SHOW YOUR WORK IN EXCEL
Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year $10,000 Sales Balance Sheet: Liabilities Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total common equity Total liabilities & equity $ 1,000 $ 2,500 $ 1,200 $ 4,700 $ 2,000 $ 6,700 $ 1,500 $ 2,000 $ 3,500 $10,200 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. $
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