Business, 12.01.2021 18:10 haydenbq

The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Balance Sheet
Sales $22,100 Assets $108,000 Debt $42,600
Costs 17,400 Equity 65,400
Taxable
income $4,700 Total $108,000 Total $108,000

Taxes (21%) 987
Net income $3,713

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,530 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $29,400. What is the external financing needed?

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The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Balance S...

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