What are the projected spontaneous liabilities

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

Projected Spontaneous Liabilities This year sales $10,000

Balance Sheet: Liabilities Notes payable $2,000

Accounts payable $1,000

Accruals$1,200

Total current liabilities $4,200

Long-term bonds$2,000

Total liabilities $6,200

Common stock$2,000

Retained earnings$3,000

Total common equity$5,000

Total liabilities & equity$11,200

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.

Reference no: EM132850998

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