You are the owner of a small business which has the following balance sheet: Current assets $ 5,000 Accounts payable $ 1,000 Net fixed assets 10,000 Accruals 1,000 Long-term debt 5,000 Common equity 8,000 Total assets $15,000 Total $15,000 Fixed and current assets are fully utilized, and the sales/assets and sales/current liabilities ratios will remain constant. Next year you expect sales to increase by 50 percent. You also expect to retain $2,000 of next year's earnings within the firm. What is next year's additional external funding requirement, i. e., what is your firm's AFN?
A. $4,500
B. No additional funds are required.
C. $3,500
D. $5,500
Answers: 2
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You are the owner of a small business which has the following balance sheet: Current assets $ 5,000...
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