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The most recent financial statements for Hornick, Inc., are shown here (assuming no income

The most recent financial statements for Hornick, Inc., are shown here (assuming no income

The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes): Balance Sheet Income Statement Sales 6,500 Assets $23,500 Debt 9,500 4,610 Costs Equity 14,000 Net income 1,890 Total $23,500 Total $23,500 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $7,150 What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) External financing needed

Abhinav 02-Dec-2019

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