>> Finance Basics
The most recent financial statements for Watchtower, Inc. are shown here (assuming no income taxes):
Income Statement Balance Sheet
Sales $5,100 Assets 14,500 Debt 10,200
Costs 3,480 Equity 4,300
Net Income 1,620 Total 14,500 Total $14,500
Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $ 5,967. What is the external financing needed?