Question
The most recent financial statements for Mixton, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 39,200 Assets $ 143,000 Debt $ 41,000 Costs
The most recent financial statements for Mixton, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 39,200 Assets $ 143,000 Debt $ 41,000 Costs 26,800 Equity 102,000 Taxable income $ 12,400 Total $ 143,000 Total $ 143,000 Taxes (23%) 2,852 Net income $ 9,548 Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,200 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $43,904. 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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