The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes) : Income Statement Balance Sheet Sales $ 8,300 Assets $ 23,200 Debt $ 9,000 Costs 5,490 Equity 14,200 Net income $ 2,810 Total $ 23,200 Total $ 23,200 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $9,545. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)
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Home » Business » The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes) : Income Statement Balance Sheet Sales $ 8,300 Assets $ 23,200 Debt $ 9,000 Costs 5,490 Equity 14,200 Net income $ 2,810 Total $ 23,200 Total $ 23,200