Question: PLEASE ANSWER ASAP! Income Statement Balance Sheet Jim's Espresso expects sales to grow by 9.9% next year and interest expense will remain constant. Jim's changes

PLEASE ANSWER ASAP! PLEASE ANSWER ASAP! Income Statement Balance Sheet Jim's Espresso expects sales

Jim's changes its payout ratio from 90% to 70% of net income

Income Statement Balance Sheet Jim's Espresso expects sales to grow by 9.9% next year and interest expense will remain constant. Jim's changes its payout ratio from 90% to 70% of net income next year. When the payout ratio was 90%, there was excess financing in the amount of $4,506. Jim's developed the pro forma financial statements provided below to reflect the change in the payout ratio to 70%. How will the net new financing change? (Click the icon to view the pro forma income statement.) (Click the icon to view the pro forma balance sheet.) Hint: Determine the difference in financing by subtracting the financing required at 90%,$4,506, from the financing required at 70%. The financing required at 70% is $ (Round to the nearest dollar.)

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