Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes): ...
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Finance
Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes):
Income Statement
Balance Sheet
Sales
$
40,000
Assets
$
26,000
Debt
$
7,000
Costs
34,160
Equity
19,000
Net income
$
5,840
Total
$
26,000
Total
$
26,000
The company has predicted a sales increase of 20 percent. Assume Yoo pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not.
Prepare the pro forma statements. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.)
Pro forma income statement
Pro forma balance sheet
Sales
$
Assets
$
Debt
$
Costs
Equity
Net income
$
Total
$
Total
$
What is the external financing needed? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.)
External financing needed
$
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