Question: Using the financial statements below, calculate the External Financing Needed (to the nearest dollar), assuming a 20% growth in Sales handled by adding a second

Using the financial statements below, calculate the External Financing Needed (to the nearest dollar), assuming a 20% growth in Sales handled by adding a second shift to the company's operations.

2019

Sales $12,000

Operating Expense 9,590

Pre-Tax Profits 2,410

Taxes (@20%) 482

Net Income 1,928

Dividends 463

Cash 549

Accounts Receivable 2,170

Inventory 2,745

Fixed Assets, Net 3,425

Total 8,889

Accounts Payable 2,145

LT Debt 2,350

C/S 1,420

RE 2,974

Total 8,889

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