2. The most recent Financial Statement for Lat in Line Inc. are shown here: Income...
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Finance
2. The most recent Financial Statement for Lat in Line Inc. are shown here:
Income Statement
Sales
$23000
Cost
$16500
Taxable Income
6500
Taxes (40%)
2600
Net Income
$3900
Balance sheet
Assets
Liabilities and Owners Equity
Assetss $ 115000
Debt 38,600
Equity 76,400
Total Assets 11500
Total 115000
Assets and costs are proportional to sales, Debt and Equity are not. A didvidend of $1560 was paid and the company wishes to maintain the constant didvidend pay out ratio. Next year sales are projected to be 27600 (20% growth). What is the external Financing needed?
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