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e most recent financial statements for Cardinal, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 23,400 Assets $ 121,000 Debt $ 33,600 Costs 16,300 Equity 87,400 Taxable income $ 7,100 Total $ 121,000 Total $ 121,000 Taxes (25%) 1,775 Net income $ 5,325 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,610 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,400. What is the external financing needed? Multiple Choice $17,581 $15,071 $219,330 $21,346 $16,326

e most recent financial statements for Cardinal, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 23,400 Assets $ 121,000 Debt $ 33,600 Costs 16,300 Equity 87,400 Taxable income $ 7,100 Total $ 121,000 Total $ 121,000 Taxes (25%) 1,775 Net income $ 5,325 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,610 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,400. What is the external financing needed? Multiple Choice $17,581 $15,071 $219,330 $21,346 $16,326

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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The most recent financial statements for Cardinal, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 23,400 Assets $ 121,000 Debt $ 33,600 Costs 16,300 Equity 87,400 Taxable income $ 7,100 Total $ 121,000 Total $ 121,000 Taxes (25%) 1,775 Net income $ 5,325 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,610 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,400. What is the external financing needed?

Multiple Choice

$17,581

$15,071

$219,330

$21,346

$16,326

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