​A Firm with Sales of $1000 Has the Following Balance $X Y Z$

​A firm with sales of $1000 has the following balance sheet. Corporation $X Y Z$
Balance Sheet as of June $30,20 X \mathrm { X }$
Assets Liabilities and Equity
Accounts receivable $\$ 200$ Accounts payable $\$ 200$
Inventory
400 Long-term debt 300
Plant
$\frac { 400 } { \$ 1,000 }$ Equity $\frac { 500 } { \$ 1,000 }$ ​
If the firm earns 10 percent after taxes on sales and pays no dividends,
​
a. Determine the entries for a new balance sheet for sales of $1,500 using the percent of sales.
a. If necessary, issue new stock to cover any external financing needs. If the firm has excess funds, retire the accounts payable.
b. the firm need external financing?
c. Construct a new balance sheet using the estimates obtained in