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The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $23,010 Costs $10,670 Taxable Income ? Taxes (40%) ? Net Income
The most recent financial statements for GPS, Inc., are shown here:
Income Statement | |
Sales | $23,010 |
Costs | $10,670 |
Taxable Income | ? |
Taxes (40%) | ? |
Net Income | ? |
Balance Sheet | |||
Assets | $55,544 | Debt | $18,976 |
Equity | ? |
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,859 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $28,311.
What is the external financing needed?
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