The most recent financial statements for Assouad, Incorporated, are shown here: Income Statement Balance Sheet $ Sales Costs Current assets $5,100 Current liabilities $ 3,150 10,700 7,600 Fixed assets 10,000 Long-term debt 4,680 Taxable income $3,100 Equity 7,270 Taxes (24%) 744 Total $ 15,100 Total $ 15,100 Net income $ 2,356 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 44 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 15 percent. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

The most recent financial statements for Assouad, Incorporated, are shown here: Income Statement Balance Sheet $ Sales Costs Current assets $5,100 Current liabilities $ 3,150 10,700 7,600 Fixed assets 10,000 Long-term debt 4,680 Taxable income $3,100 Equity 7,270 Taxes (24%) 744 Total $ 15,100 Total $ 15,100 Net income $ 2,356 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 44 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 15 percent. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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