Solved: Assets and costs are proportional to sales debt and equity, Accounting Basics

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Assets and costs are proportional to sales debt and equity

Question - Financial statement

Sales: $7,100

Costs: $4,370

Net Income $2,730

Assets: $21,900

TOTAL $21,900

Debt $9,400

Equity $12,500

TOTAL $21,900

Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $8,449.

What is the external financing needed?

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Accounting Basics: Assets and costs are proportional to sales debt and equity

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