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Please help!! The most recent financial statements for Reply, Inc., are shown here: Income Statement Sales Costs Balance Sheet $ 26,600 Assets $61,000 Debt $27,600
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The most recent financial statements for Reply, Inc., are shown here: Income Statement Sales Costs Balance Sheet $ 26,600 Assets $61,000 Debt $27,600 Equity 33,400 17,900 Taxable income $ 8,700 To $61,000 T61,000 Taxes (40%) 3,480 Net income $ 5,220 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,200 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $31,920. What is the external financing needed? (Do not round intermediate calculations.) External financing neededStep by Step Solution
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