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The Longbranch Western Wear Company has the following financial statements, which are representative of the company's historical average. They expect to have the same profit
The Longbranch Western Wear Company has the following financial statements, which are representative of the company's historical average. They expect to have the same profit margin but would like to pay out $15,000 in dividends. Income Statement Sales $200,000 Expenses 158.000 Earnings before interest and taxes 42.000 Interest 2.000 Earnings before taxes 40,000 Taxes 20.000 Earnings after taxes $ 20,000 Dividends $ 10.000 Balance Sheet Assets Liabilities and Shareholders' Equity Cash $ 5,000 Accounts payable.. $ 5,000 Accounts receivable. 10,000 Accrued wages 1,000 Inventory. 15.000 Accrued taxes 2,000 Current assets 30,000 Current liabilities 8,000 Capital assets. 70,000 Notes payable.. 7,000 Long-term debt 15,000 Common stock 20,000 Retained earnings. 50,000 Total assets. $100,000 Total liabilities and equity.... $100,000 Longbranch is expecting a 15 percent increase in sales next year, and management is concerned about the company's need for external funds. Assuming they do not have capacity, and require $8000 of new plant equipment, what is the required new funding? Do not use commas or dollar signs in your answer. If there is no RNF, enter "O
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