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  3. 2. the most recent financial statement for lat in

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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