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The most recent financial statements for 7 Seas, Inc. are shown here: Current assets Fixed assets Income Statement Sales $4,600 Costs 3,840 Taxable income 760
The most recent financial statements for 7 Seas, Inc. are shown here: Current assets Fixed assets Income Statement Sales $4,600 Costs 3,840 Taxable income 760 Taxes (35%) 266 Net income 494 Balance Sheet $6,084 Current liabilities 5,183 Long-term debt Equity $11,267 Total $1,244 2,487 7,536 $11,267 Total Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 50 percent dividend payout ratio. Like every other form in its industry, next year's sales are projected to increase by exactly 16 percent. What is the external financing need
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