Management provides the current balance sheet below. In planning for next year they are making the following assumptions

Question

Sales will increase by 50%
Net income is projected to be $1,770
The plan will require an addition to PPE of $2,500
The firm pays a dividend 26%
Calculate the amount of additional funds needed.

.

Select one:
a. $2,830 Incorrect
b. $2,600
c. $3,290
d. $4,600