c. Now suppose that the firm plans instead to increase long-term debt only to $1,100 and does

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c. Now suppose that the firm plans instead to increase long-term debt only to $1,100 and does not wish to issue any new shares of stock. Why must the dividend payment now be the balancing item? What will its value be?

Balance Sheet, Year-End 2022 2021 2022 2021 Net assets $3,000 $2,700 Debt $1,000 $ 900 Equity 2,000 1,800 Total $3,000 $2,700 Total $3,000 $2,700 Income Statement Sales $950 Costs 250 Pretax income 700 Taxes (at 28.6%) 200 Net income $500

⟩ TABLE 30.17 Financial statements for Eagle Sport Supply, 2022. See Problem 21.

884 Part Ten Financial Planning and Working Capital Management

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