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The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $23255 Costs...

The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $23255 Costs $14567 Taxable Income ? Taxes (40%) ? Net Income ? Balance Sheet Assets $55204 Debt $15813 Equity ? Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1618 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be $29969. What is the external financing needed?

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