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The most recent financial statements for Bello, Inc., are shown here: Income Statement Sales $40,800 Costs 27,600 Balance Sheet Assets $151,000 Debt Equity $ 45,000
The most recent financial statements for Bello, Inc., are shown here: Income Statement Sales $40,800 Costs 27,600 Balance Sheet Assets $151,000 Debt Equity $ 45,000 106,000 Taxable income $ 13,200 Total $151,000 Total $ 151,000 Taxes (21%) 2,772 Net income $ 10,428 Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,600 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $46,512. What is the external financing needed? (Do not round intermediate calculations.) External financing needed
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