WHEN For the next fiscal year, you forecast net income of $51,000 and ending assets of $501,600. Your firm's payout ratio is 9.5%. Your beginning stockholders' equity is $299,600 and your beginning total liabilities are $120,000. Your non-debt liabilities such as accounts payable are forecasted to increase by $10,000. What is your net new financing needed for next year? The Tax Cuts and Jobs Act of 2017 temporarily allowed 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems. The net financing required will be $ (Round to the nearest dollar.)

For the next fiscal year, you forecast net income of $51,000 and ending assets of $501,600. Your firm's payout ratio is 9.5%. Your beginning stockholders' equity is $299,600 and your beginning total liabilities are $120,000. Your non-debt liabilities such as accounts payable are forecasted to increase by $10,000. What is your net new financing needed for next year? The Tax Cuts and Jobs Act of 2017 temporarily allowed 100\% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems. The net financing required will be $ (Round to the nearest dollar.)