Homework Answers
Growth rate in sales=(29210-25400)/25400=15%
Dividend payout ratio=Dividend/Net income
=(2100/6399)=0.328176277
| Sales | 29210 |
| Costs(17300*1.15) | 19895 |
| Taxable income | $9315 |
| Tax(21%*$9315) | $1956.15 |
| Net income | $7358.85 |
| Less:Dividends($7358.85*0.328176277) | $2415 |
| Addition to retained earnings | $4943.85 |
Total assets would be=$61000*1.15=$70150
Total equity=$34100+Addition to retained earnings
=$34100+$4943.85
=$39043.85
Total assets=Total equity+Total liabilities
Hence external financing needed=70150-$39043.85-$26900
=$4206.15
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Income Statement Sales Costs Balance Sheet $25,400 Assets $61,000 Debt $26,900 Equity 34,100 17,300 Taxable...
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3.
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