What are the projected spontaneous liabilities

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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.

Reference no: EM132841308

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