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Question - Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes):
Income Statement Balance Sheet
Sales $38,000
Assets $27,300
Debt $6,700
Costs 32,600
Equity 20,600
Net income $5,400
Total $27,300 $27,300
The company has predicted a sales increase of 15 percent. Assume Wims pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements. (Input all amounts as positive values. Do not round intermediate calculations.)
Determine the external financing needed.
nbspyear ending december 2012year ending december 2011year ending december 2010revenues400003500033000operating
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