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  3. income statement for the present year net sales $

Income Statement for the Present Year Net sales $14,650 Costs $12,103 ...

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Accounting

Income Statement for the Present Year

Net sales

$14,650

Costs

$12,103

Taxable income

$2,547

Taxes

$866

Net income

$1,681

Wintergreen, Inc. Balance Sheet for the Present Year

Cash

$525

Accounts payable

$1,963

Accounts receivable

$3,135

Notes payable

$2,618

Inventory

$976

Total

$4,581

Total

$4,636

Long-term debt

$6,600

Net fixed assets

$23,770

Common stock

$7,500

Retained earnings

$9,725

Total assets

$28,406

Total liabilities and equity

$28,406

Assets, accounts payable and costs are proportional to sales. Debt and equity are not. Sales of Wintergreen, Inc. are expected to increase by 6% next year. Wintergreen is currently operating at maximum capacity. Wintergreen has a 20% dividend pay out ratio. What is the external financing need?


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