I would appreciate a good explanation thanks.
Homework Answers
Growth rate in sales=(33060-29000)/29000=14%
Dividend payout ratio=Dividend/Net income
=(3200/8463)=0.378116507
| Sales | 33060 |
| Costs(18150*1.14) | 20691 |
| Taxable income | $12369 |
| Taxes(22%*$12369) | $2721.18 |
| Net income | $9647.82 |
| Less:dividends($9647.82*0.378116507) | $3648 |
| Addition to retained earnings | $5999.82 |
Total assets would be=$69200*1.14=$78,888
Total equity would be=$36000+Addition to retained earnings
=$36000+$5999.82
=$41,999.82
Total assets=Total equity +Total liabilities
Hence external financing needed=$78,888-$41,999.82-$33200
=$3688.18
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I would appreciate a good explanation thanks.
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