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Question 5 5 pts You are given the following income statement and balance sheet: Income Statement Sales $15,000 EBT $800 Taxes (40%) $320 Net Income
Question 5 5 pts You are given the following income statement and balance sheet: Income Statement Sales $15,000 EBT $800 Taxes (40%) $320 Net Income $480 Cash AR Inventories Total CA Fixed Assets Total Assets Balance Sheet $100 Accounts Payable $2,000 Debt .$4,000 Common Stock $6,100 Retained Earnings $1,900 $8,000 Total Claims $1,000 $4,000 $2,000 $1,000 $8,000 Now make the following forecast and assumptions for the upcoming year: Sales are expected to increase by $5,700 over the coming year. . All assets and accounts payable can be expressed as a percentage of sales. The firm's profit margin will remain at 3.2 percent. The firm has a dividend payout rate of 75 percent. Using the equation method, determine the additional funds needed for the coming year. $2,449 O $2,311 O $2,403
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