What are projected spontaneous liabilities for smiley corp

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Reference no: EM132972937

Smiley Corporation's current sales and partial balance sheet are shown below.

This year

Sales $10,000 

Balance Sheet: Liabilities

Accounts payable $1,000

Notes payable $2,000

Accruals $1,600

Total current liabilities $4,600

Long-term bonds $2,000

Total liabilities $6,600

Common stock $1,000

Retained earnings $2,500

Total common equity $3,500

Total liabilities & equity $10,100

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.

Reference no: EM132972937

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