The most recent financial statements for Heine, Inc. are shown below:

Statement of income				Balance sheet
Sales	ps	26,900		Assets	ps	63,700		Debt	ps	27,900
costs		18,800						Equity		35,800
taxable income	ps	8,100		Total	ps	63,700		Total	ps	63,700
Taxes (40%)		3,240
Net Income	ps	4,860

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,300 has been paid, and the company wishes to maintain a constant payout ratio. Sales for next year are projected at $30,935.

What is the necessary external financing? (Do not round intermediate calculations.)

Necessary external financing

ps

Answer rating: 100% (QA)

To calculate the necessary external financing we need to determine the incre... View the full answer