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The most recent financial statements for Yoom, Inc., are shown here: Income Statement Balance Sheet Sales $3,700 Current assets $4,700 Current liabilities $860 Costs 2,300
The most recent financial statements for Yoom, Inc., are shown here: |
Income Statement | Balance Sheet | ||||
Sales | $3,700 | Current assets | $4,700 | Current liabilities | $860 |
Costs | 2,300 | Fixed assets | 5,400 | Long-term debt | 3,650 |
Taxable income | $1,400 | Equity | 5,590 | ||
Taxes (34%) | 476 | Total | $10,100 | Total | $10,100 |
Net income | $924 | ||||
Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 50 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 30 percent. |
Required: |
What is the external financing needed? (Do not round your intermediate calculations.) |
Multiple Choice
$2,171.4
$2,429.4
$1,095
$2,121.4
$2,221.4
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