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The most recent financial statements for Assouad, Incorporated, are shown here: Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are
The most recent financial statements for Assouad, Incorporated, are shown here: Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 35 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 18 percent. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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