Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. Sales This...
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Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. Sales This year $10,000 Balance Sheet: Liabilities Accounts payable $ 1,000 Notes payable $ 3,000 Accruals $ 1,400 Total current liabilities $ 5,400 Long-term bonds $ 2,000 Total liabilities $ 7,400 Common stock Retained earnings Total common equity $ 1,500 $ 3,000 $ 4,500 Total liabilities & equity $11,900 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. S 6,156 Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. Sales This year $10,000 Balance Sheet: Liabilities Accounts payable $ 1,000 Notes payable $ 3,000 Accruals $ 1,400 Total current liabilities $ 5,400 Long-term bonds $ 2,000 Total liabilities $ 7,400 Common stock Retained earnings Total common equity $ 1,500 $ 3,000 $ 4,500 Total liabilities & equity $11,900 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. S 6,156
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