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The most recent financial statements for Martin, Inc., are shown here: Income Statement Sales $ 2 9 , 5 0 0 Costs 1 7 ,
The most recent financial statements for Martin, Inc., are shown here:
Income Statement
Sales $
Costs
Taxable income $
Taxes
Net income $
Balance Sheet
Assets $ Debt $
Equity
Total $ Total $
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $ was paid, and Martin wishes to maintain a constant payout ratio. Next years sales are projected to be $ What is the external financing needed? Do not round intermediate calculations. Round your answer to decimal places.
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