Service

Chat Now

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

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

The most recent financial statements for Hornick, Inc., areshown here (assuming no income taxes):

 

Income Statement

 

Balance Sheet

 

  Sales

$

8,400

 

  Assets

$

14,000

 

  Debt

$

6,000

 

  Costs

 

6,390

 

 

 

 

 

  Equity

 

8,000

 

 

 

 

 

 

 

 

 

 

 

 

 

    Netincome

$

2,010

 

    Total

$

14,000

 

    Total

$

14,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                       

 

Assets and costs are proportional to sales. Debt and equity arenot. No dividends are paid. Next year’s sales are projected to be$9,996.

 

What is the external financing needed? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)

Abhinav 02-Dec-2019

Answer (UnSolved)

question Get solution