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The most recent financial statements for Reply, Inc., are shown here: Income Statement Bal

The most recent financial statements for Reply, Inc., are shown here: Income Statement Bal

The most recent financial statements for Reply, Inc., are shown here: Income Statement Balance Sheet Sales $ 33,900 Assets $ 56,800 Debt $ 22,400 Costs 24,800 Equity 34,400 Taxable income $ 9,100 Total $ 56,800 Total $ 56,800 Taxes (40%) 3,640 Net income $ 5,460 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,600 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be $40,680. What is the external financing needed? (Do not round intermediate calculations.)

External financing needed $___

Abhinav 02-Dec-2019

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