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The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $23,852 Costs $11,902 Taxable Income ? Taxes (40%) ? Net Income
The most recent financial statements for GPS, Inc., are shown here:
Income Statement | |
Sales | $23,852 |
Costs | $11,902 |
Taxable Income | ? |
Taxes (40%) | ? |
Net Income | ? |
Balance Sheet | |||
Assets | $56,455 | Debt | $18,576 |
Equity | ? |
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,980 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $29,412.
What is the external financing needed? (Negative amount should be indicated by a minus sign.)
(Omit the "$" sign and commas in your response. Enter your answer rounded to the nearest whole dollar amount. For example, $1,200.456 should be entered as 1200.)
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