he most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $4,500 Assets $14,900 Debt $10,300 Costs 3,450 Equity 4,600 Net income $1,050 Total $14,900 Total $14,900 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,967. What is the external financing needed?
he most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $4,500 Assets $14,900 Debt $10,300 Costs 3,450 Equity 4,600 Net income $1,050 Total $14,900 Total $14,900 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,967. What is the external financing needed?
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 51E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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he most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): |
Income Statement | Balance Sheet | ||||
Sales | $4,500 | Assets | $14,900 | Debt | $10,300 |
Costs | 3,450 | Equity | 4,600 | ||
Net income |
$1,050 |
Total |
$14,900 |
Total |
$14,900 |
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,967. |
What is the external financing needed? |
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