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Consider the following simplified financial statements for the Wesney Corporation ( assuming no income taxes ) . The company has predicted a sales increase of

Consider the following simplified financial statements for the Wesney Corporation (assuming no income taxes). The company has predicted a sales increase of 15 percent. Assume the company pays out half of net income in the form of cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements and determine the external financing needed.
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\table[[Incom,ent,\table[[Debt],[Equity],[Total]],],[Sales,$39,400,],[Costs,34,700,],[Net income,$4,700,],[,Balance sheet,],[Assets,$29,200,$9,400
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