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The 2017 financial statements for Growth Industries arepresented below.INCOME STATEMENT, 2017Sales$240,000Costs170,000EBIT$70,000Interestexpense14,000Taxableincome$56,000Taxes (at35%)19,600Net income$36,400Dividends$18,200Addition toretained earnings18,200 BALANCE SHEET, YEAR-END, 2017AssetsLiabilitiesCurrentassetsCurrentliabilitiesCash$7,000Accountspayable$14,000Accountsreceivable12,000Total currentliabilities$14,000Inventories21,000Long-termdebt140,000Total currentassets$40,000Stockholders’equityNet plant andequipment180,000Common stockplus additional paid-in capital15,000Retainedearnings51,000Totalassets$220,000Totalliabilities and stockholders' equity$220,000 Sales and costs are projected to grow at 30% a year for at leastthe next 4 years. Both current assets and accounts payable areprojected to rise in proportion to sales. The firm is currentlyoperating at 75% capacity, so it plans to increase fixed assets inproportion to sales. Interest expense will equal 10% of long-termdebt outstanding at the start of the year. The firm will maintain adividend payout ratio of 0.50.What is the required external financing over the next year?(Enter excess cash as a negative number with a minussign.)