Electric Chair and Table Co. expects sales next year to be $10,000,000. Inventory
And accounts receivable will increase by $1,400,000 and accounts payable will
Increase by $300,000. The company has a profit margin of 9 percent and pays
Out 30 percent of profits in dividends. How much external financing will be nec-
Essary? Assume there is no increase in liabilities other than that which will occur
With the external financing.
