Lg inc, has done a long - term forecast of its balance sheet. the projected total assets for the next year are $200 million the current liabilities are projected to be $100 million and other long term liabilities are $70 million. how much net now financing is needed in the following year? a. $30 million b. $22 million c. $25 million d. $18 million

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.