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The most recent financial statements for Mixton, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 40,000 Assets $ 147,000 Debt $ 43,000 Costs
The most recent financial statements for Mixton, Incorporated, are shown here: |
Income Statement | Balance Sheet | ||||
---|---|---|---|---|---|
Sales | $ 40,000 | Assets | $ 147,000 | Debt | $ 43,000 |
Costs | 27,200 | Equity | 104,000 | ||
Taxable income | $ 12,800 | Total | $ 147,000 | Total | $ 147,000 |
Taxes (22%) | 2,816 | ||||
Net income | $ 9,984 | ||||
Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,400 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $46,400. |
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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