Projected Spontaneous Liabilities Smiley Corporation's current sales and partial balance sheet are shown below. ...
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Finance
Projected Spontaneous Liabilities
Smiley Corporation's current sales and partial balance sheet are shown below.
This year
Sales
$
10,000
Balance Sheet: Liabilities
Accounts payable
$
1,000
Notes payable
$
3,000
Accruals
$
1,400
Total current liabilities
$
5,400
Long-term bonds
$
2,000
Total liabilities
$
7,400
Common stock
$
1,500
Retained earnings
$
2,000
Total common equity
$
3,500
Total liabilities & equity
$
10,900
Sales are expected to grow by 12% 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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