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Problem 4-4 EFN (LO2] The most recent financial statements for Mixton, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 28,600 Assets $ 68,400
Problem 4-4 EFN (LO2] The most recent financial statements for Mixton, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 28,600 Assets $ 68,400 Debt $ 32,500 Costs 18,100 Equity 35,900 Taxable income $ 10,500 Total $ 68,400 Total $ 68,400 Taxes (24%) 2,520 Net income $ 7,980 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $3,100 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $33,176. What is the external financing needed? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) External financing needed
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