The most recent financial statements for Acer, Incorporated, are shown here: Income Statement Sales Costs Taxable income Taxes (24%) Net income $31,800 Assets 18,500 $ 13,300 3,192 $10,108 Total Balance Sheet $74,800 Debt Equity $74,800 Total $38,100 36,700 $74,800 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $3,900 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $36,570. What is the external financing needed? (Do not ound intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
The most recent financial statements for Acer, Incorporated, are shown here: Income Statement Sales Costs Taxable income Taxes (24%) Net income $31,800 Assets 18,500 $ 13,300 3,192 $10,108 Total Balance Sheet $74,800 Debt Equity $74,800 Total $38,100 36,700 $74,800 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $3,900 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $36,570. What is the external financing needed? (Do not ound intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 22BEA: The income statement, statement of retained earnings, and balance sheet for Somerville Company are...
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Transcribed Image Text:The most recent financial statements for Acer, Incorporated, are shown here:
Income Statement
Sales
Costs
Taxable
income
Taxes (24%)
Net income
$31,800 Assets
18,500
$ 13,300
3,192
$ 10,108
Total
External financing needed
Balance Sheet
$74,800 Debt
Equity
$ 74,800
$38,100
36,700
Total $ 74,800
Assets and costs are proportional to sales. Debt and equity are not. A dividend of
$3,900 was paid, and the company wishes to maintain a constant payout ratio. Next
year's sales are projected to be $36,570. What is the external financing needed? (Do not
round intermediate calculations and round your answer to the nearest whole number,
e.g., 32.)
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