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Income Statement Sales $46,500 Cost $ 38,780 Net Income $7,720 Balance Sheet Assets $20, 500 Total $ 20, 500 Debt Equity $6,500 Total $20, 500 The
Income Statement
Sales $46,500
Cost $ 38,780
Net Income $7,720
Balance Sheet
Assets $20, 500
Total $ 20, 500
Debt Equity $6,500
Total $20, 500
The company has predicted a sales increase of 14 percent. Assume Fire pays out half or net income in the form an of cash divided. Costs and assets vary with sales, but debt and equity do not.
Pro Forma Income Statement
Sales $6, 510
Costs 5429.20
Net Income $ 1080.8
Pro Forma Balance Sheet
Assets $ 2,870
Total $ 2,870
Debt $ 910
Equity $1,960
Total 2,870
Determine the external financing needed? (Negative amount should be indicated by a minus sign.)
