Calculating EFN
The most recent financial statements for Bradley’s Bagels, Inc., are shown here (assuming no income taxes):
|
Income Statement |
Balance Sheet |
||||
|
Sales |
$3,800 |
Assets |
$13,300 |
Debt |
$ 9,200 |
|
Costs |
1,710 |
Equity |
4,100 |
||
|
Net income |
$2,090 |
Total |
$13,300 |
Total |
$13,300 |
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year’s sales are projected to be $5,320. What is the external financing needed?