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The most recent financial statements for Bello, Inc., are shown here: Income Statement Balance Sheet Sales $ 41,400 Assets $ 154,000 Debt $ 46,500 Costs
The most recent financial statements for Bello, Inc., are shown here: |
Income Statement | Balance Sheet | ||||||||||
Sales | $ | 41,400 | Assets | $ | 154,000 | Debt | $ | 46,500 | |||
Costs | 27,900 | Equity | 107,500 | ||||||||
Taxable income | $ | 13,500 | Total | $ | 154,000 | Total | $ | 154,000 | |||
Taxes (24%) | 3,240 | ||||||||||
Net income | $ | 10,260 | |||||||||
Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,750 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $46,782. |
What is the external financing needed? (Do not round intermediate calculations.) |
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