Gyp sum from external sources to fund expected group

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Reference no: EM131856177

Suppose that Gyp Sum industries currently has the balance sheet shown below, and that sales for the first year just ended were $9.7 million. The firm also has a profit margin of 20 percent, a retention ratio of 25 percent, and expects sales of $7.7 million next year. Assets Current assets: $1,229,000 Fixed assests: 4,300,000 Total assets: 5,529,000 Liabilities and Equity Current Liabilities: 1,216,380 Long term debt: 1,650,000 Equity: 2,662,620 Total liabilities and equity: 5,529,000 If all assets and current liabilities are expected to shrink with sales, what amount of additional funds will Gyp Sum from external sources to fund the expected group? (enter your answer in dollars not in millions. Negative amount should be indicated by a minus sign)

Reference no: EM131856177

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