how did they get 479,000?

a: 0 of 1 pt 3 of 15 (12 complete) HW Score: 80%, 120 blem View an Example xels the next 5,700, ar nning de constan qu ey sbt- amount Question Help For the next fiscal year, you forecast net income of $50,000 and ending assets of $500,000. Your firm's payout ratio is 10.4%. Your beginning stockholders' equity is $300,000, and your beginning total liabilities are $125,000. Your non-debt liabilities such as accounts payable are forecasted to increase by $11,000. Assume your beginning debt is $115,000. What amount of equity and what amount of debt would you need to issue to cover the net new financing in order to keep your debt-equity ratio constant? Notice that it is given that accounts payable are forecasted to increase by $11,000. The new non-debt liabilities are $10,000+ $11,000 = $21,000. The amount of debt needed to maintain the debt-to-equity ratio is found solving the following equation for debt. New Debt = Debt-to-Equity Ratio New Equity Note that New Equity = New Assets - New Non-debt Liabilities - New Debt. The amount of debt needed to maintain the debt/equity ratio is found by solving the following for debt. New Debt $479,000 - New Debt = 0.383333 Thus, the amount of debt needed to maintain the ratio is $132,735. Press Continue to see more. Continue Close 6 parts remaining