The most recent financial statements for Summer Tyme, Inc., are shown here Income Statement Balance...
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Finance
The most recent financial statements for Summer Tyme, Inc., are shown here Income Statement Balance Sheet $4,800 Current liabilities 5,900 Long-term debt Equity $940 3,610 6,150 $10,700 $3,500 Current assets Sales Costs Taxable income Taxes (32%) 2,700 Fixed assets $800 256 Total $10,700 Total Net income $544 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 25 percent. Required What is the external financing needed? (Do not round your intermediate calculations.) O $2,032 $1,982 O $2,082 O $902.5 o $2,267
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