Question: Question 3 10 points Save Answer Consider the following simplified financial statements for the FIN341 Corporation (assuming no income taxes): Income Statement Sales $ 40,000

 Question 3 10 points Save Answer Consider the following simplified financial

Question 3 10 points Save Answer Consider the following simplified financial statements for the FIN341 Corporation (assuming no income taxes): Income Statement Sales $ 40,000 Costs 34,000 Balance Sheet Assets $ 26,000 Debt S 7,000 Equity 19,000 Net income $ 6,000 Total $ 26,000 Total S 26,000 The company has predicted a sales increase of 15 percent. Assume the company 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. What is negative answer should be indicated by a minus sign.) external financing needed? (Do not round intermediate calculations. A

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