What is external financing needed

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The most recent financial statements for Reply, Inc., are shown here: Income Statement Balance Sheet Sales $ 23,400 Assets $ 52,500 Debt $ 20,100 Costs 15,200 Equity 32,400 Taxable income $ 8,200 Total $ 52,500 Total $ 52,500 Taxes (40%) 3,280 Net income $ 4,920 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,700 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be $26,910. What is the external financing needed? (Do not round intermediate calculations.) External financing needed $

Reference no: EM131955575

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