X Your answer is incorrect. Blossom Excavation Company has total assets of $4,956,456, sales of $1,200,700, and net inco

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X Your Answer Is Incorrect Blossom Excavation Company Has Total Assets Of 4 956 456 Sales Of 1 200 700 And Net Inco 1 (115.17 KiB) Viewed 17 times

X Your answer is incorrect. Blossom Excavation Company has total assets of $4,956,456, sales of $1,200,700, and net income of $575,000. The company's management expects sales to grow by 9 percent next year. All costs (including taxes) and assets vary directly with sales, and the firm expects to maintain a payout ratio of 30 percent. Calculate the external funds needed (EFN) by Blossom. (Round answer to 2 decimal places, e.g. $5.27.) External funds needed $ 7356.04 What would Blossom's payout ratio have to be in order for the company's EFN to equal zero? (Round answer to 1 decimal places, e.g. 2.7%.) Payout ratio 28.8 %