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Please answer the actual question with the values on the financial statment as is. please update the sales from 21,000 to 20,000. External Funding Needed
Please answer the actual question with the values on the financial statment as is.
please update the sales from 21,000 to 20,000.
External Funding Needed 5,6. The most recent financial statements for Roy, Inc. are shown here: Assets Income Statement Sales $21,000 Costs $12,000 Taxable income $ 8,000 Taxes (34%) $ 2,720 Net Income $ 5,280 Balance Sheet $78,000 Debt $18,000 Equity $60,000 $78,000 Total $78,000 Total Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1130 was paid and Roy, Inc. wish to maintain a constant payout ratio. Next year's sales are projected to be $25,800. What external financing is needed Step by Step Solution
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