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The most recent financial statements for Mixton, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 26,600 Assets $ 64,400 Debt $ 29,000 Costs
The most recent financial statements for Mixton, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 26,600 Assets $ 64,400 Debt $ 29,000 Costs 17,850 Equity 35,400 Taxable income $ 8,750 Total $ 64,400 Total $ 64,400 Taxes (24%) 2,100 Net income $ 6,650 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,600 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $30,324. 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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