Calculating EFN The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes):
|
Income Statement |
Balance Sheet |
||||
|
Sales |
$4,800 |
Assets |
$14,200 |
Debt |
$9,900 |
|
Costs |
3,180 |
Equity |
4,300 |
||
|
Net income |
$1,620 |
Total |
$14,200 |
Total |
$14,200 |
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year’s sales are projected to be $5,616. What is the external financing needed?