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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