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Here are the abbreviated financial statements for Planners Peanuts: INCOME STATEMENT, 2019 Sales $ 5,000 Cost 3,900 Net income $ 1,100 BALANCE SHEET, YEAR-END 2018
Here are the abbreviated financial statements for Planners Peanuts: INCOME STATEMENT, 2019 Sales $ 5,000 Cost 3,900 Net income $ 1,100 BALANCE SHEET, YEAR-END 2018 2019 2018 2019 Assets $ 7,500 $ 8,000 Debt $ 833 $ 1,000 Equity 6,667 7,000 Total $ 7,500 $ 8,000 Total $ 7,500 $ 8,000 Assets are proportional to sales. If the dividend payout ratio is fixed at 50%, calculate the required total external financing for growth rates in 2020 of
(a) 20%,
(b) 25%, and
(c) 30%. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
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