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What is the external financing needed

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Reference no: EM132484048

The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes):

Income Statement

Sales$6,900

Costs 4,360 

Net income$2,540 

Balance Sheet

Assets$15,950 Debt$6,350 

Equity 9,600 

Total$15,950 Total$15,950

Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $8,418.

What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM132484048

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