What external financing is needed

Reference no: EM13285352

The most recent financial statements for Martin Inc are shown here:

Income Statement Balance Sheet
Sales $25,800 Assets $113,000 Debt $20,500
Costs 16,500 Equit 92,500
Taxable Income 9,300 Total $113,000 113,000
Taxes (34%) 3,162
Net Income 6,138

Assets and costs are proportional to sales. Deb and equity are not. A divident of $1,841.40 was paid and Martin wishes to maintain a constant payout ratio. Next years sales are projected to be $30,960. What external financing is needed?

Reference no: EM13285352

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