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Question 1 The most recent financial statements for Heine, Inc., are shown here: ...

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Finance

Question 1

The most recent financial statements for Heine, Inc., are shown here:

Income Statement Balance Sheet
Sales $ 23,700 Assets $ 55,200 Debt $ 20,400
Costs 14,400 Equity 34,800
Taxable income $ 9,300 Total $ 55,200 Total $ 55,200
Taxes (40%) 3,720
Net income $ 5,580

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,800 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $29,625.

What is the external financing needed? (Do not round intermediate calculations.)

External financing needed $

Question 2

Al's Sport Store has sales of $2,830, costs of goods sold of $2,120, inventory of $507, and accounts receivable of $419. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?

Multiple Choice

  • 119.3

  • 65.4

  • 87.3

  • 86.1

  • 119.5

Answer ____________

Answer & Explanation Solved by verified expert
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