What is the external financing needed

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Reference no: EM131445278

The most recent financial statements for Reply, Inc., are shown here: Income Statement Balance Sheet Sales $ 34,000 Assets $ 57,700 Debt $ 22,500 Costs 24,500 Equity 35,200 Taxable income $ 9,500 Total $ 57,700 Total $ 57,700 Taxes (40%) 3,800 Net income $ 5,700 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,000 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be $37,400. What is the external financing needed? (Do not round intermediate calculations.) External financing needed $

Reference no: EM131445278

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