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The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Sales Costs Balance Sheet $26,600 Assets $64,400 Debt $29,000 Equity 35,400 17,850
The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Sales Costs Balance Sheet $26,600 Assets $64,400 Debt $29,000 Equity 35,400 17,850 Taxable $8,750 Tota $64,400 Tot $64,400 Income Taxes (24%) 2100 Income$ 6,650 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,600 was pald, and the company wishes to malntain a constant payout ratlo. Next years sales are projected to be $30,324. What is the external financing needed? (Do not round Intermedlete calculatlons.) External financing needed
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