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On its last income statement, Schulich Inc. reported sales of $49,250 and net income of $8,793. On its balance sheet, fixed assets of $18,282, current
On its last income statement, Schulich Inc. reported sales of $49,250 and net income of $8,793. On its balance sheet, fixed assets of $18,282, current liabilities of $2,940, current assets of $3,018, long-term debt of $7,600, and equity of $10,760 were reported. Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 50 percent dividend payout ratio. Next year's sales are projected to increase by 7 percent. What is the amount of external financing needed if the firm is currently operating at full capacity? Select one: O $2,988 O $3,951 O -$3,419 0-$8,123
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