Dividends $1.368 Fake Stone. Inc. Balance Sheet Cash $930 Accounts payable $2.470 Accounts rec. 1.720 Long-term debt 8.800 Inventory 3.210 Common stock 10.000 Total $5.860 Retained earnings 4.190 Net fixed assets 19,600 Total assets $25,460 Total liabilities & equity $25.460 Assume that net working capital and all of the costs of Fake Stone, Inc. increase directly with sales. Also assume that the tax rate and the dividend payout ratio are constant. The firm is currently operating at full capacity. What is the external financing need it sales increase by 4 percent? -$1,214.48 -$804.15 -$397.19 $201.16 $525.38 QUESTION 11 Fake Stone, Inc. Income Statement Net sales $23.600 Cost of goods sold 14.870 Depreciation 2.800 Earnings before interest and taxes 5.930 Interest paid 670 Taxable income $5.260 Taxes 1.840 Net income $3.420 Dividends S1.368 Fake Stone, Inc. Balance Sheet Click Save and Submit to save and submit. Click Save All Answers to save all answers. 0 Prts F3 F4