The most recent financial statements for Mixton, Incorporated, are shown here: INCOME STATEMENT Sales Costs Taxable income Taxes (24%) Net income $ 54,000 44,200 External financing needed $ 9,800 2,352 $ 7,448 Assets Total BALANCE SHEET Debt Equity Total $ 118,900 $ 118,900 $36,300 82,600 $ 118,900 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $3,100 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $62,100. What is the external financing needed? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.

The most recent financial statements for Mixton, Incorporated, are shown here: INCOME STATEMENT Sales Costs Taxable income Taxes (24%) Net income $ 54,000 44,200 External financing needed $ 9,800 2,352 $ 7,448 Assets Total BALANCE SHEET Debt Equity Total $ 118,900 $ 118,900 $36,300 82,600 $ 118,900 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $3,100 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $62,100. What is the external financing needed? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.

Name: The most recent financial statements for Mixton, Incorporated, are sh
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Description: The most recent financial statements for Mixton, Incorporated, are shown here:INCOME STATEMENTSalesCostsTaxable incomeTaxes (24%)Net income$ 54,000 Assets44,200$9,800External financing needed2,352$ 7,448TotalBALANCE SHEETDebtEquityTotal$ 118,900$ 11

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter13: Financial Statement Analysis

Section: Chapter Questions

Problem 13.8E

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