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SteveS, MBA
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External financing need Income statement sales $19,500 Costs

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External financing need:
Income statement
sales $19,500
Costs $15,000
Taxable income $4,500
Taxes (40%) $1,800
Net income $2,700
Balance sheet
Debt $52,500
Equity $45,500
total $98,000
A dividend of $1,400 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected at $21,840. What is the external financing need?

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