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The most recent financial statements for Bello, Inc., are shown here: Income Statement Balance Sheet Sales $ 40,200 Assets $ 148,000 Debt $ 43,500 Costs
The most recent financial statements for Bello, Inc., are shown here: |
Income Statement | Balance Sheet | ||||||||||
Sales | $ | 40,200 | Assets | $ | 148,000 | Debt | $ | 43,500 | |||
Costs | 27,300 | Equity | 104,500 | ||||||||
Taxable income | $ | 12,900 | Total | $ | 148,000 | Total | $ | 148,000 | |||
Taxes (23%) | 2,967 | ||||||||||
Net income | $ | 9,933 | |||||||||
Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,450 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $44,622. |
What is the external financing needed? (Do not round intermediate calculations.) |
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