What are the projected spontaneous liabilities

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Question - Projected Spontaneous Liabilities This year Smiley Corporation's current sales and partial balance sheet are shown below.

Sales $10,000

Balance Sheet: Liabilities

Accounts payable $1,500

Notes payable $2,500

Accruals $2,000

Total current liabilities $6,000

Long-term bonds $2,000

Total liabilities $8,000

Common stock $1,000

Retained earnings $2,500

Total common equity $3,500

Total liabilities & equity $11,500

Sales are expected to grow by 10% 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: EM132983136

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