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The most recent financial statements for Heine, Inc., are shown here: Income Statement Balance Sheet Sales $ 26,900 Assets $ 63,700 Debt $ 27,900 Costs
The most recent financial statements for Heine, Inc., are shown here:
Income Statement | Balance Sheet | ||||||||||
Sales | $ | 26,900 | Assets | $ | 63,700 | Debt | $ | 27,900 | |||
Costs | 18,800 | Equity | 35,800 | ||||||||
Taxable income | $ | 8,100 | Total | $ | 63,700 | Total | $ | 63,700 | |||
Taxes (40%) | 3,240 | ||||||||||
Net income | $ | 4,860 | |||||||||
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,300 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $30,935. |
What is the external financing needed? (Do not round intermediate calculations.) |
External financing needed | $ |
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