The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Balance Sheet Sales $ 31,800 Assets $ 74,800 Debt $ 38,100 Costs 18,500 Equity 36,700 Taxable income $ 13,300 Total $ 74,800 Total $ 74,800 Taxes (24%) 3,192 Net income $ 10,108 Assets...

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Finance

The most recent financial statements for Cardinal, Inc., areshown here:
Income Statement Balance Sheet
  Sales $ 31,800   Assets $ 74,800   Debt $ 38,100
  Costs 18,500   Equity 36,700
  Taxable income $ 13,300     Total $ 74,800     Total $ 74,800
  Taxes (24%) 3,192
    Net income $ 10,108
Assets and costs are proportional to sales. Debt and equity arenot. A dividend of $3,900 was paid, and the company wishes tomaintain a constant payout ratio. Next year’s sales are projectedto be $36,570.
What is the external financing needed? (Do not roundintermediate calculations.)

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The most recent financial statements for Cardinal, Inc., areshown here:Income StatementBalance Sheet Sales$31,800 Assets$74,800 Debt$38,100 Costs18,500 Equity36,700 Taxable income$13,300 Total$74,800 Total$74,800 Taxes (24%)3,192 Net income$10,108Assets and costs are proportional to sales. Debt and equity arenot. A dividend of $3,900 was paid, and the company wishes tomaintain a constant payout ratio. Next year’s sales are projectedto be $36,570.What is the external financing needed? (Do not roundintermediate calculations.)

Income Statement			Balance Sheet
Sales	$	31,800	Assets	$	74,800	Debt	$	38,100
Costs		18,500				Equity		36,700

Taxable income	$	13,300	Total	$	74,800	Total	$	74,800

Taxes (24%)		3,192

Net income	$	10,108