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please show steps Table 1: The most recent financial...

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Finance

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Table 1: The most recent financial statements for Heartland, Inc., are shown here: Heartland, Inc. Income Statement Other Inputs Sales 30,000 Tax rate 21% Costs 26,000 Payout Ratio 50% Taxable income 4,000 Growth rate 14% Taxes (21%) 840 Net income 3,160 Heartland, Inc. Balance Sheet Assets Liabilities & Equity Current Assets 15,500 Current Liabilities 5,600 Fixed assets 7,500 || Long-term debt 8,000 Shareholder Equity 9,400 Total Assets 23,000 Total L&E 23,000 Assets, costs, and current liabilities are proportional to sales. Long- term debt and equity are NOT proportional to sales. The company maintains a constant 50 percent dividend payout ratio. As with ever other firm in its industry, the next year's sales are projected to increase by 15 percent. 2. What is the sustainable growth rate? (5 points) 3. What is the external financing needed (EFN)? (15 points) TT

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