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The most recent financial statements for Heine, Inc., are shown here. Income Statement Balance Sheet Sales $ 23,600 Assets $ 54,300 Debt $ 20,300 Costs
The most recent financial statements for Heine, Inc., are shown here. |
Income Statement | Balance Sheet | ||||||||||
Sales | $ | 23,600 | Assets | $ | 54,300 | Debt | $ | 20,300 | |||
Costs | 14,600 | Equity | 34,000 | ||||||||
Taxable income | $ | 9,000 | Total | $ | 54,300 | Total | $ | 54,300 | |||
Taxes (40%) | 3,600 | ||||||||||
Net income | $ | 5,400 | |||||||||
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,500 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $26,904. |
What is the external financing needed? (Do not round intermediate calculations.) |
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