Homework 1 (Ch2-Ch4) Saved Help Save & Exit Submit The most recent financial statements for Assouad, Inc., are shown here: Income Statement Sales $3,500 $820 Balance Sheet Current Current assets $3,900 liabilities Long-term Fixed assets 5,600 debt Equity Total $9,500 Total points Costs 2,600 3,590 Taxable income $900 Taxes (23%) 207 Net income $693 5,090 $9,500 eBook Print Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 60 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 25 percent References What is the external financing needed