Question
Use the following information: assets = $283,900; current liabilities = $31,480; long-term liabilities = $157,690; revenues = $141,950; expenses excluding taxes = $110,340; and tax
Use the following information: assets = $283,900; current liabilities = $31,480; long-term liabilities = $157,690; revenues = $141,950; expenses excluding taxes = $110,340; and tax rate = 34%. Suppose that assets, current liabilities, and expenses excl. taxes are proportional with sales, and the firm pays no dividends. How much external financing is needed if the sales increase by 28%?
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
11th edition
978-1111530266
