Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. This year Sales         $    10,000      Balance Sheet: Liabilities                 Accounts payable        $    1,000     Notes payable        $    2,000     Accruals        $    1,800         Total current liabilities        $    4,800     Long-term bonds        $    2,000         Total liabilities        $    6,800     Common stock        $    1,500     Retained earnings        $    3,000         Total common equity        $    4,500       Total liabilities & equity        $    11,300     Sales are expected to grow by 8% 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

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Projected Spontaneous Liabilities

Smiley Corporation's current sales and partial balance sheet are shown below.

This year
Sales         $    10,000     
Balance Sheet: Liabilities                
Accounts payable        $    1,000    
Notes payable        $    2,000    
Accruals        $    1,800    
    Total current liabilities        $    4,800    
Long-term bonds        $    2,000    
    Total liabilities        $    6,800    
Common stock        $    1,500    
Retained earnings        $    3,000    
    Total common equity        $    4,500    
  Total liabilities & equity        $    11,300    
Sales are expected to grow by 8% 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.

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