A firm has current sales of $56,000.Projected sales for next year are $60,000.The percentage of sales approach is used for pro forma purposes.All balance sheet accounts,except long-term debt and common stock,change according to that approach.The expected increase in retained earnings is $3,100.What is the projected external financing need given the following current account values?
Definitions:
Epithelial Tissues
Tissues that form the outer surface of the body and the lining of the digestive, respiratory, urinary, and reproductive systems.
Secretions
Substances produced and released by cells or glands in the body, such as saliva, mucus, or hormones.
Down Syndrome
A genetic disorder caused by the presence of all or part of a third copy of chromosome 21, characterized by physical growth delays, characteristic facial features, and varying degrees of intellectual disability.
Live Births
The birth of a baby that shows any sign of life, such as breathing, heartbeat, or voluntary muscle movements, after separation from the mother's body.
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