Question 18 2 pts Continue from the previous two questions. Based on Tim's expectation of 7% sales growth and payout ratio of 80% of net income next year, Tim developed the pro forma financial statements based on the current financial statements given below. What is the amount of net new financing needed for Jim's Espresso? Answer: The total new financing will be $ (Round to the nearest dollar. For excess in funding, enter a negative number.) Income Statement Sales $400,000 300,000 Costs Except Depreciation EBITDA Depreciation EBIT 100,000 40,000 60,000 1,600 58,400 Interest Expense (net) Pretax Income Income Tax (35%) 23,360 Net Income $35,040 Balance Sheet Assets $8,000 Cash and Equivalents Accounts Receivable 32,000 Inventories 12,000 Total Current Assets 52,000 Property, plant and Equipment 48,000 Total Assets $100,000 Liabilities and Equity Accounts Payable $36.000 Debt 16.000 Total Liabilities 52,000 Stockholders' Equity 48,000 Total Liabilities and Equity $100,000 Question 18 2 pts Continue from the previous two questions. Based on Tim's expectation of 7% sales growth and payout ratio of 80% of net income next year, Tim developed the pro forma financial statements based on the current financial statements given below. What is the amount of net new financing needed for Jim's Espresso? Answer: The total new financing will be $ (Round to the nearest dollar. For excess in funding, enter a negative number.) Income Statement Sales $400,000 300,000 Costs Except Depreciation EBITDA Depreciation EBIT 100,000 40,000 60,000 1,600 58,400 Interest Expense (net) Pretax Income Income Tax (35%) 23,360 Net Income $35,040 Balance Sheet Assets $8,000 Cash and Equivalents Accounts Receivable 32,000 Inventories 12,000 Total Current Assets 52,000 Property, plant and Equipment 48,000 Total Assets $100,000 Liabilities and Equity Accounts Payable $36.000 Debt 16.000 Total Liabilities 52,000 Stockholders' Equity 48,000 Total Liabilities and Equity $100,000