Consider the following simplified financial statements for the Yoo Corporation. Assume there are no income taxes and the company pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements and determine the external financing needed. Sales Costs Income statement $ 36,000 29,800 Net income $ 6,200 Sales increase Payout rate 15% 50% Assets $ Total $ Balance sheet 26,400 Debt Equity 26,400 Total $ $ 6,300 20,100 26,400

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