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The most recent financial statements for Heine, Inc., are shown here: Income Statement Sales $ 34,000 Costs 24,500 Assets Balance Sheet $ 57,700 Debt Equity
The most recent financial statements for Heine, Inc., are shown here: Income Statement Sales $ 34,000 Costs 24,500 Assets Balance Sheet $ 57,700 Debt Equity $ 22,500 35,200 Taxable income $ 9.500 Taxes (40%) Total $ 57,700 Total $57,700 Net income $ 5,700 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,000 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $37,400. What is the external financing needed
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