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The most recent financial statements for Bello, Inc., are shown here: Income Statement Balance Sheet Sales $ 39,200 Assets $ 143,000 Debt $ 41,000 Costs
The most recent financial statements for Bello, Inc., are shown here: |
Income Statement | Balance Sheet | ||||||||||
Sales | $ | 39,200 | Assets | $ | 143,000 | Debt | $ | 41,000 | |||
Costs | 26,800 | Equity | 102,000 | ||||||||
Taxable income | $ | 12,400 | Total | $ | 143,000 | Total | $ | 143,000 | |||
Taxes (23%) | 2,852 | ||||||||||
Net income | $ | 9,548 | |||||||||
Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,200 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $43,904. |
What is the external financing needed? (Do not round intermediate calculations.) |
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