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The most recent financial statements for Martin, Inc., are shown here: Income Statement Sales $ 29,500 Costs (11,400) Taxable income $ 18,100 Taxes (34%) (6,154)
The most recent financial statements for Martin, Inc., are shown here: |
Income Statement | |||
Sales | $ | 29,500 | |
Costs | (11,400) | ||
Taxable income | $ | 18,100 | |
Taxes (34%) | (6,154) | ||
Net income | $ | 11,946 | |
Balance Sheet | ||||||
Assets | $ | 82,600 | Debt | $ | 30,000 | |
Equity | 52,600 | |||||
Total | $ | 82,600 | Total | $82,600 | ||
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,135 was paid, and Martin wishes to maintain a constant payout ratio. Next years sales are projected to be $34,220. What is the external financing needed?(Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.) |
EFN | $ |
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