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The most recent financial statements for Mixton, Incorporated, are shown here: Income Statement Sales Costs $31,400 Assets 18,450 Balance Sheet $ 74,000 Debt Equity
The most recent financial statements for Mixton, Incorporated, are shown here: Income Statement Sales Costs $31,400 Assets 18,450 Balance Sheet $ 74,000 Debt Equity $ 37,400 36,600 Taxable $ 12,950 Total $ 74,000 Total $ 74,000 income Taxes (24%) 3,108 Net income $ 9,842 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $3,800 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $36,424. What is the external financing needed? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) External financing needed $ 4,554
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