The most recent financial statements for Incredible Edibles, Inc., are shown here(assuming no income taxes):INCOMESTATEMENTSalesCostsBALANCE SHEET$9,3007,330Assets $20,000DebtEquity$ 8,00012,000Net$ 1,970Total $20,000Total $20,000IncomeAssets and costs are proportional to sales; debt and equity are not. No dividends arepaid. Next year's sales are projected to be $10,788.What is the external financing needed? (Do not round Intermediate calculations andround your answer to 2 declmal places, e.g., 32.16.)External financing needed

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The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): INCOME STATEMENT $9,300 7,330 BALANCE SHEET Sales Assets $20,000 $ 8,000 12,000 Debt Costs Equity Net $ 1,970 Total $20,000 Total $20,000 income

The most recent financial statements for Incredible Edibles, Inc., are shown here (assuming no income taxes): INCOME STATEMENT $9,300 7,330 BALANCE SHEET Sales Assets $20,000 $ 8,000 12,000 Debt Costs Equity Net $ 1,970 Total $20,000 Total $20,000 income

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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