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The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Sales $22.400 Assets Costs 17100 Taxable $5,300 Total income Taxes (23%) 1,219

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The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Sales $22.400 Assets Costs 17100 Taxable $5,300 Total income Taxes (23%) 1,219 Net Income $4,081 Balance Sheet $114,000 Debt Equity $114,000 Total $39,600 74,400 $114,000 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,480 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,800. What is the external financing needed? Multiple Choice O $25.707 $202.628 O $23,360

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