The most recent financial statements for Cornell, Inc., are shown here:

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,600 was paid, and
the company wishes to maintain a constant payout ratio. Next year€™s sales are projected to be $50,310.
What is the external financing needed?

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BALANCE SHEET INCOME STATEMENT $104,500 Debt Equity Total $43,000 30,200 $12,800 4,352 $ 28,200 76,300 Sales Assets Costs Taxable income Total $104,500 $104,500 Taxes (34%) $ 8,448 Net income