The most recent financial statements for Cardinal, Incorporated, are shown here: Income Statement Balance Sheet...
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Accounting
The most recent financial statements for Cardinal, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 23,400 Assets $ 121,000 Debt $ 33,600 Costs 16,300 Equity 87,400 Taxable income $ 7,100 Total $ 121,000 Total $ 121,000 Taxes (25%) 1,775 Net income $ 5,325 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,610 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,400. What is the external financing needed?
Multiple Choice
$17,581
$15,071
$219,330
$21,346
$16,326
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