Income Statement Balance Sheet Sales $4,800 Assets $14,200 Debt $ 9,900 Costs (3,180) Equity 4,300 Net income $1,620 Total $14,200 Total $14,200
Income Statement Balance Sheet Sales $4,800 Assets $14,200 Debt $ 9,900 Costs (3,180) Equity 4,300 Net income $1,620 Total $14,200 Total $14,200
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 4CE
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The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes):Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year’s sales are projected to be $6,240. What is the external financing needed?
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