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The most recent financial statements for Tile Inc., are shown here: Income Statement Balance Sheet Sales $23,300 Assets $125,000 Debt $32,600 Costs 16,800 Equity 92,400
The most recent financial statements for Tile Inc., are shown here: |
Income Statement | Balance Sheet | ||||
Sales | $23,300 | Assets | $125,000 | Debt | $32,600 |
Costs | 16,800 | Equity | 92,400 | ||
Taxable income | $6,500 | Total | $125,000 | Total | $125,000 |
Taxes (30%) | 1,950 | ||||
Net income | $4,550 | ||||
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,480 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,900. |
Required: |
What is the external financing needed? |
Multiple Choice
$22,371
$26,235
$21,083
$19,795
$237,051
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