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Wish Inc. sells low-cost items online. Its most recent income statement and balance sheet are given below: Income statement ($ million) Balance sheet ($ million)
Wish Inc. sells low-cost items online. Its most recent income statement and balance sheet are given below:
Income statement ($ million) | Balance sheet ($ million) | ||||||
Sales | 20 | Current assets | 14 | Debt | 21 | ||
Costs | 16 | Fixed assets | 56 | Equity | 49 | ||
Net income | 4 | Total assets | 70 | Total | 70 |
Sales, assets and costs are expected to grow by 36% next year, while debt will stay constant. The company expects to pay out 20% of net income as dividends.
What is the external financing needed (EFN) for next year (in $ million)?
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