A firm has current sales of $56,000.Projected sales for next year are $60,000.The percentage of sales approach is used for pro forma purposes.All balance sheet accounts,except long-term debt and common stock,change according to that approach.The expected increase in retained earnings is $3,100.What is the projected external financing need given the following current account values?
A) -$3,532
B) -$1,969
C) -$1,390
D) $987
E) $1,480
Correct Answer:
Verified
Q95: A firm has the following account balances
Q96: Last year,a firm had net income of
Q97: What is the financing cash flow,given the
Q98: Zonvier,Inc.has sales of $53,800,a profit margin of
Q99: A firm has $4,500 of cash,equipment worth
Q100: What is the investment cash flow,given the
Q102: The Corner Market had annual sales of
Q103: Carter's Books,Inc.has net income of $75,000 and
Q103: The DeSoto Container Company has sales of
Q104: What is the operating cash flow,given the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents