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The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $21706 Costs $14096 Taxable Income ? Taxes (40%) ? Net Income
The most recent financial statements for GPS, Inc., are shown here:
Income Statement | |
Sales | $21706 |
Costs | $14096 |
Taxable Income | ? |
Taxes (40%) | ? |
Net Income | ? |
Balance Sheet | |||
Assets | $55199 | Debt | $22015 |
Equity | ? |
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1887 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $29409.
What is the external financing needed? (round 2 decimal places)
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