The most recent financial statements for Bison Inc. are shown below: Income Statement Sales $7,600 Costs 5.180 Net Income 2,420 Balance Sheet Assets Liabilities $9.100 Equity 12.600 Total Assets 21,700 Total L & E 21,700 The company is ready to prepare pro-forma financial statements. They are assuming that assets and costs will be proportional to sales but liabilities are not. The company does NOT want to take on additional debt at this time. No dividends are expected to be paid. Next year's sales are projected to increase by 18%. Determine the EFN (External Financing Needed). Round answer to a whole number. $21,700

The most recent financial statements for Bison Inc. are shown below: Income Statement Sales $7,600 Costs 5.180 Net Income 2,420 Balance Sheet Assets Liabilities $9.100 Equity 12.600 Total Assets 21,700 Total L & E 21,700 The company is ready to prepare pro-forma financial statements. They are assuming that assets and costs will be proportional to sales but liabilities are not. The company does NOT want to take on additional debt at this time. No dividends are expected to be paid. Next year's sales are projected to increase by 18%. Determine the EFN (External Financing Needed). Round answer to a whole number. $21,700

Name: Find the external finance needed The most recent financial statements
Uploaded: 2024-03-20T06:33:21.000Z
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Description: Find the external finance needed The most recent financial statements for Bison Inc. are shown below:Income StatementSales$7,6005.180Net Income 2,420CostsBalance SheetAssetsLiabilitiesEquityTotal Assets21,700Total L & EThe company is ready to prepare

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4PB: Bristax Corporation recorded $1,385,660 in credit sales for the year, and $732,410 in accounts...

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