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Here are the abbreviated financial statements for Planners Peanuts: INCOME STATEMENT, 2017 Sales $ 8,500 Cost 6,700 Net income $ 1,800 BALANCE SHEET, YEAR-END 2016
Here are the abbreviated financial statements for Planners Peanuts:
| INCOME STATEMENT, 2017 | |||
| Sales | $ | 8,500 | |
| Cost | 6,700 | ||
| Net income | $ | 1,800 | |
| BALANCE SHEET, YEAR-END | |||||||||||||||||||
| 2016 | 2017 | 2016 | 2017 | ||||||||||||||||
| Assets | $ | 5,500 | $ | 6,000 | Debt | $ | 853 | $ | 1,000 | ||||||||||
| Equity | 4,647 | 5,000 | |||||||||||||||||
| Total | $ | 5,500 | $ | 6,000 | Total | $ | 5,500 | $ | 6,000 | ||||||||||
Assets are proportional to sales. If the dividend payout ratio is fixed at 50%, calculate the required total external financing for growth rates in 2018 of 25%, 30%, and 35%
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