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The financial statement of Ruby & Company is 2. as follows: Income Statement Sales 26,400 Costs 17,300 Taxable Income 9,100 Taxes 40% 3,640 Net Income

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The financial statement of Ruby & Company is 2. as follows: Income Statement Sales 26,400 Costs 17,300 Taxable Income 9,100 Taxes 40% 3,640 Net Income 5,460 Balance Sheet Assets 65,000 Debt 27,400 Equity 37,600 Total 65,000 Total 65,000 Assets and Costs are proportional to sales. Debt and Equity are not. A dividend of 3,200 was paid and the company wishes to maintain a constant payout ratio (dividend). Next year's sales are projected to be 30,360. What is the external financing required

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