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Homework answers / question archive / Smiley Corporation's current sales and partial balance sheet are shown below
Smiley Corporation's current sales and partial balance sheet are shown below.
| This year | ||||
| Sales | $ | 10,000 | ||
| Balance Sheet: Liabilities | ||||
| Accounts payable | $ | 2,000 | ||
| Notes payable | $ | 2,500 | ||
| Accruals | $ | 2,000 | ||
| Total current liabilities | $ | 6,500 | ||
| Long-term bonds | $ | 2,000 | ||
| Total liabilities | $ | 8,500 | ||
| Common stock | $ | 2,000 | ||
| Retained earnings | $ | 2,000 | ||
| Total common equity | $ | 4,000 | ||
| Total liabilities & equity | $ | 12,500 | ||
Sales are expected to grow by 10% next year. Assuming no change in operations from this year to next year, what are the projected spontaneous liabilities? Do not round intermediate calculations. Round your answer to the nearest dollar. $
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