Executives at Fruit Corporation Forecast Increased Sales of 10% Over

question 101

Multiple Choice

Executives at Fruit Corporation forecast increased sales of 10% over the next year.$2,000,000 of assets will change in constant proportion to sales.If the addition to retained earnings is estimated to be $50,000, determine the required external financing.

• A)$150,000
• B)$200,000
• C)$250,000
• D)$300,000
• E)$350,000 New Investment - addition to retained earnings = .1 × 2,000,000 - 50,000 = $150,000.

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