In the previous question, assume Phillips pays out half of net income in the form of a

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In the previous question, assume Phillips pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements and determine the external financing needed.

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Fundamentals of corporate finance

ISBN: 978-0073382395

9th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Question Posted: Dec 16, 2016 01:42 PM

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In the previous question, assume Phillips pays out half of net income in the form of a

Question:

Income Statement Balance Sheet $15,800 Debt Sales Costs 5,200 10,600 $15,800 $23,000 Assets Equity 15,800 Total 16,700 Net income

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Given Data Income statement Balance sheet Sales 23000 Asset...View the full answer

Fundamentals of corporate finance

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