Question: please show all work 4. EFN The most recent financial statements for Cornell, Inc., are shown here: INCOME STATEMENT $43,000 30,200 Taxable income $12,800 4,352

please show all work 4. EFN The most recent financial statements

please show all work

4. EFN The most recent financial statements for Cornell, Inc., are shown here: INCOME STATEMENT $43,000 30,200 Taxable income $12,800 4,352 Net income 8,448 BALANCE SHEET $104,500 $104,500 28,200 76,300 $104,500 Assets Debt Sales Costs Equity Total Total Taxes (34%) Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,600 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $50,310. What is the external financing needed? n for Mayland Co, are shown here

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