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The most recent financial statements for Heine, Inc., are shown here: Income Statement Balance Sheet Sales $ 33,700 Assets $ 55,000 Debt $ 22,200 Costs
The most recent financial statements for Heine, Inc., are shown here:
Income Statement | Balance Sheet | ||||||||||
Sales | $ | 33,700 | Assets | $ | 55,000 | Debt | $ | 22,200 | |||
Costs | 25,300 | Equity | 32,800 | ||||||||
Taxable income | $ | 8,400 | Total | $ | 55,000 | Total | $ | 55,000 | |||
Taxes (40%) | 3,360 | ||||||||||
Net income | $ | 5,040 | |||||||||
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,900 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $37,070. |
What is the external financing needed? (Do not round intermediate calculations.) |
External financing needed | $ |
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