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The most recent financial statements for Mixton, Incorporated, are shown here: Income StatementBalance SheetSales$ 32,600Assets$ 76,400Debt$ 39,500Costs18,600Equity36,900Taxable income$ 14,000Total$ 76,400Total$ 76,400Taxes (22%)3,080Net income$ 10,920 Assets
The most recent financial statements for Mixton, Incorporated, are shown here:
Income StatementBalance SheetSales$ 32,600Assets$ 76,400Debt$ 39,500Costs18,600Equity36,900Taxable income$ 14,000Total$ 76,400Total$ 76,400Taxes (22%)3,080Net income$ 10,920Assets and costs are proportional to sales. Debt and equity are not. A dividend of $4,100 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $37,816.What is the external financing needed? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
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