Question 1 The most recent financial statements for Heine, Inc., are shown here: ...
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Finance
Question 1
The most recent financial statements for Heine, Inc., are shown here:
Income Statement
Balance Sheet
Sales
$
23,700
Assets
$
55,200
Debt
$
20,400
Costs
14,400
Equity
34,800
Taxable income
$
9,300
Total
$
55,200
Total
$
55,200
Taxes (40%)
3,720
Net income
$
5,580
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,800 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $29,625.
What is the external financing needed? (Do not round intermediate calculations.)
External financing needed
$
Question 2
Al's Sport Store has sales of $2,830, costs of goods sold of $2,120, inventory of $507, and accounts receivable of $419. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?
Multiple Choice
119.3
65.4
87.3
86.1
119.5
Answer ____________
Answer & Explanation
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