Business, 06.05.2020 01:37 caleighpeters

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

Income Statement Balance Sheet
Sales $4,100 Current assets $4,900 Current liabilities $910
Costs 2,800 Fixed assets 5,000 Long-term debt 3,570
Taxable income $1,300 Equity 5,420
Taxes (24%) 312 Total $9,900 Total $9,900
Net income $988

Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 50 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.)
EFN = needed new long-term debt and/or external equity

a) $1,931.5 b) $892.5 c) $1,704 d) $1,654 e) $1,754

Answers: 2

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

Income Statemen...

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