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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 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

Dec 02 2019 View more View Less

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