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Question - Smiley Corporation's current sales and partial balance sheet are shown below.
This year Sales $10,000
Balance Sheet: Liabilities Accounts payable $2,000
Notes payable $3,000
Accruals $1,600
Total current liabilities $6,600
Long-term bonds $2,000
Total liabilities $8,600
Common stock $2,000
Retained earnings $3,000
Total common equity $5,000
Total liabilities & equity $13,600
Sales are expected to grow by 12% 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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