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Problem 9-8 Additional Funds Needed Stevens Textiles 2012 financial statements are shown below: Balance sheet as of December 3 2012 (Thousands of Dollars) Cash 1,080 Accounts payable Receivables 6,480 Accruals Inventories 9,000 Notes payable Total current assets 16,560 Total current liabilities Net fixed assets 12,600 Mortgage bonds Common stock Retained earnings $29,160 Total liabilities and equity Total assets Income Statement for December 3 2012 (Thousands of Dollars $36,000 Sales Operating costs 32,440 Earnings before interest and taxes 3,560 Interest 460 3,100 Earnings before taxes Taxes (40%) 1,240 Net income 1,860 Dividends (45%) 837 Addition to retained earnings 1,023 4,320 2,880 2,100 9,300 3,500 3,500 12,860 $29,160

can someone show me step by step how they reached the answer for the problem. I keep getting a few steps wrong and it messes up the entire problem. Also for part C. its' either higher or lower.

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