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The 2019 financial statements for Growth Industries are presented below Costs Interest expense Taxes (at 213) Net Income Dividends Addition to retained earnings Current assets
The 2019 financial statements for Growth Industries are presented below Costs Interest expense Taxes (at 213) Net Income Dividends Addition to retained earnings Current assets $ Accounts receivable Inventories Total current assets Net plant and equipment BALANCE SHEET YEAR Liabilities Current little 54.ee Accounts payable 9,000 Total current liabilities 27, Long-tero debt ! $ 40.000 Stockholders equity 200. Common stock plus additional paid.in capital Retained earnings 330,000 Total abilities plus stockholders' equity 11,000 250.000 15.ee Total assets $ 330,000 Sales and costs are projected to grow at 20% a year for at least the next 4 years. Both current assets and accounts payable are projected to rise in proportion to sales. The firm is currently operating at 75% capacity, so it plans to increase fixed assets in proportion to sales. Interest expense will equal 10% of long-term debt outstanding at the start of the year. The firm will maintain a dividend payout ratio of 0 40 What is the required external financing over the next year? (Enter excess cash as a negative number with a minus sign) External financing
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