Business, 26.04.2021 09:30 hammackkatelyn60

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Suppose that Gyp Sum Industries currently has the balance sheet shown below, and that
sales for the year just ended were $10.2 million. The firm also has a profit margin of 30
percent, a retention ratio of 20 percent, and expects sales of $8.2 million next year.
Assets Liabilities and Equity
Current assets $ 2,124.000 Current liabilities
Fixed assets 4,200,000 Long-term debt
Equity
$ 1.707 480
1.600.000
3.016.520
Total assets $ 6.324.000
Total liabilities and equity $ 6.324.000
If all assets and current liabilities are expected to shrink with sales what amount of
additional funds will Gyp Sum need from external sources to fund the expected growth?
(Enter your answer in dollars not in millions. Negative amount should be indicated by a
minus sign.)

Answers: 3

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