Answer Happy

The most recent financial statements for Assouad, Incorporated, are shown here: Income Statement Balance Sheet Sales Current $ 4,200 Current assets $ 4,000 $ 800 liabilities Costs 2,300 Fixed assets 6,300 Long-term debt 3,540 Taxable income $1,900 Equity 5,960 Taxes (22%) 418 Total $ 10,300 Total $ 10,300 Net Income $ 1,482 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 60 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 20 percent What is the external financing needed?
What is the external financing needed? Multiple Choice $1,238.64 $1,348,64 $1.188.64 $1,138,64 $708.00