Homework Answers
The answer is option D $1,816.25
Income Statement (25% sales growth) Balance Sheet (25% sales growth)
Sales $ 4,500 Current Assets $ 6,124.91 Current Liabilities $1,174.91
Costs $ 2,750 Fixed Assets $ 7,499.91 Long Term Debt $ 3,600
_______________ Equity $ 7,033.75 (6360+673.75)
Taxable Income $ 1,750
Taxes (23%) 402.5
_________
Net income $ 1,347.5
Dividend = 1,347.5 × .5 = $ 673.5
External financing needed = Assets - ( Liabilities + Shareholder's funds)
= 13,624.91 - ( 4,774.91+ 7,033.75)
= $ 1,816.25
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