The most recent financial statements for Tile Inc., are shown here: ...
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Accounting
| The most recent financial statements for Tile Inc., are shown here: |
| Income Statement | Balance Sheet | ||||
| Sales | $23,300 | Assets | $125,000 | Debt | $32,600 |
| Costs | 16,800 | Equity | 92,400 | ||
| Taxable income | $6,500 | Total | $125,000 | Total | $125,000 |
| Taxes (30%) | 1,950 | ||||
| Net income | $4,550 | ||||
| Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,480 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,900. |
| Required: |
| What is the external financing needed? |
Multiple Choice
$22,371
$26,235
$21,083
$19,795
$237,051
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