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  3. s 400,000 costs 250,000- $150,000 30,000 120,000 4

s 400,000 Costs 250,000- $150,000 30,000 120,000 42,000 78,000 Taxable income Taxes (at 35%) ook...

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Finance

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s 400,000 Costs 250,000- $150,000 30,000 120,000 42,000 78,000 Taxable income Taxes (at 35%) ook Dividends $39,000 39,000 BALANCE SHEET, YEAR-END, 2017 Liabilities Current assets Current liabilitien $ 9,000 14,000 16,000 s 16,000 300,000 Accounts payable 0Stockholdera equity Retained earnings Total current 1iabilities Accounts receivable Inventories 27,000Long-term debt Total assets 50,000 Net piant and equipment 340,000Common atock plus additional paid-in capital 15,000 59,000 Total assets s 390,000 Total liabilities and stockholdera' equity s390,000 Sales and costs are projected to grow at 30% a year for at least the next 4 years. Both current assets and accounts payable are projected to rise in proportion to sales. The firm is currentl to sales. Interest expense will equal 10% of long-term debt ratio of 0.50 y operating at 75% capacity, so it plans to increase fixed assets in outstanding at the start of the year. The firm will maintain a dividend payout What is the required external financing over the next year? (Negative amounts should be indicated by a minus sign.)

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