Decker Enterprises Projected         Sales na          1,500         Costs na

Below are the simplified current and projected financial statements for Decker Enterprises. All of Decker’s assets are operating assets. All of Decker’s current liabilities are operating liabilities.

Income statement Current

1,050

Profit before tax na

450

Taxes na

135

Net income na

315

Dividends na

95

Balance sheets Current Projected     Current Projected Current assets          100

115

Current liabilities           70

81

Net fixed assets     1,200

1,440

Long-term debt         300

360

Common stock         500

500

Retained earnings         430

650

Based on the projections, Decker will have

a. a financing deficit of $36

b. a financing surplus of $255

c. zero financing surplus or deficit

d. a financing surplus of $36

e. a financing deficit of $255

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