b. What will be the value of this balancing item? ...
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b. What will be the value of this balancing item?
Here are the abbreviated financial statements for Planner's Peanuts: INCOME STATEMENT, 2017 3,000 2,200 Sales Cost Net income 800 BALANCE SHEET, YEAR-END 2016 2017 2016 2017 $ 853 $1,000 3,000 $4,000 $3,500 $4,000 Debt Assets Equity 2,647 3,500 $4,000 $3,500 Total Total a. If sales increase by 25% in 2018 and the company uses a strict percentage of sales planning model (meaning that all items on the income and balance sheet also increase by 25%), what must be the balancing item? Debt Cost Dividends Net income Sales
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