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The financial statement of Rutlam & Company is as follows: Income Statement Sales 5,700 Costs 4,200 Taxable Income 1,500 Taxes 34% 510 Net Income 990
The financial statement of Rutlam & Company is as follows: Income Statement Sales 5,700 Costs 4,200 Taxable Income 1,500 Taxes 34% 510 Net Income 990 2,200 3,750 Balance Sheet Current 3,900 Current Assets Liabilities Fixed 8,100 Long Assets Term Debt Equity Total 12,000 Total 6,050 12,000 Assets, Costs and current liabilities are proportional to sales. Long term debt and equity are not. The company maintains a constant 40% dividend pay- out ratio. Next years sales are projected to increase by exactly 15%. What is the external financing required
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