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Projected Spontaneous Liabilities This year Sales $ 10,000 Balance Sheet: Liabilities Smiley Corporation's current sales and partial balance sheet are shown below.
Accounts payable $ 1,500
Notes payable $ 2,500
Accruals $ 1,400
Total current liabilities $ 5,400
Long-term bonds $ 2,000
Total liabilities $ 7,400
Common stock $ 2,000
Retained earnings $ 2,000
Total common equity $ 4,000
Total liabilities & equity $ 11,400
Problem 1: Sales are expected to grow by 8% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar.
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