Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes): Income Statement Sales Costs Balance Sheet Assets $30,602 $27,915 $50,686 Debt $18,193 Equity ? The company has predicted a sales increase of 6 percent. Assume Fire pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Determine the external financing needed.

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Financial Ratios

A Ratio refers to a figure calculated as a reference to the relationship of two or more numbers and can be expressed as a fraction, proportion, percentage, or the number of times. When the number is determined by taking two accounting numbers derived from the financial statements, it is termed as the accounting ratio.

Return on Equity

The Return on Equity (RoE) is a measure of the profitability of a business concerning the funds by its stockholders/shareholders. ROE is a metric used generally to determine how well the company utilizes its funds provided by the equity shareholders.