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The most recent financial statements for Tile Inc., are shown here: ...

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Accounting

The most recent financial statements for Tile Inc., are shown here:

Income Statement Balance Sheet
Sales $23,300 Assets $125,000 Debt $32,600
Costs

16,800

Equity 92,400
Taxable income $6,500 Total

$125,000

Total

$125,000

Taxes (30%) 1,950
Net income

$4,550

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,480 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,900.

Required:

What is the external financing needed?

Multiple Choice

$22,371

$26,235

$21,083

$19,795

$237,051

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