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Find below the Companys financial statements for year 2525. Balance Sheet, 12/31/2525 Income, 1/1 12/31/2525 $390 Cash & securities $1,190 Current liabilities Sales $20,000 $900

Find below the Companys financial statements for year 2525.

Balance Sheet, 12/31/2525 Income, 1/1 12/31/2525

$390 Cash & securities $1,190 Current liabilities Sales $20,000

$900 Inventory $1,200 Debt total costs $19,500

$3,700 PP&E $2,600 Stockholders equity net income $500

$4,990 Total assets $4,990 dividends $190

new retained earnings $310

For 2526 the company plans 17.30% sales growth. They plan to hold constant the asset turnover (salestotal assets) and payout ratio (=dividendsnet income). They plan to increase Current Liabilities spontaneously with sales, while holding Debt constant. Suppose the company decides to hold constant their net profit margin (=net income sales). Given the above plan, how much external financing is needed for year 2526?

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