Question

The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $23617 Costs...

The most recent financial statements for GPS, Inc., are shown here:

Income Statement
Sales $23617
Costs $10915
Taxable Income ?
Taxes (40%) ?
Net Income ?
Balance Sheet
Assets $50141 Debt $17575
Equity ?

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1655 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be $29929.

What is the external financing needed? (round 2 decimal places)

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $20451 Costs...
The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $20451 Costs $10165 Taxable Income ? Taxes (40%) ? Net Income ? Balance Sheet Assets $57251 Debt $21944 Equity ? Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1501 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be $27432. What is the external financing needed?
the most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $21,685 Costs...
the most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $21,685 Costs $11,856 Taxable Income ? Taxes (40%) ? Net Income ? Balance Sheet Assets $50,126 Debt $16,779 Equity ? Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,548 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be $26,703. What is the external financing needed?
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?
The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $20451 Costs...
The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $20451 Costs $10165 Taxable Income ? Taxes (40%) ? Net Income ? Balance Sheet Assets $57251 Debt $21944 Equity ? Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1501 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be $27432. What is the external financing needed? (Negative amount should be...
The most recent financial statements for GPS, Inc., are shown here:   Income Statement Balance Sheet   Sales...
The most recent financial statements for GPS, Inc., are shown here:   Income Statement Balance Sheet   Sales $22,700     Assets $114,000     Debt $29,600     Costs 16,600     Equity 84,400     Taxable income $6,100       Total $114,000       Total $114,000     Taxes (35%) 2,135       Net income $3,965   Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,610 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,400. What is the external financing needed?
The most recent financial statements for GPS, Inc., are shown here: Income Statement Balance Sheet Sales...
The most recent financial statements for GPS, Inc., are shown here: Income Statement Balance Sheet Sales $22,300 Assets $108,000 Debt $38,600 Costs 16,700 Equity 69,400 Taxable income $5,600 Total $108,000 Total $108,000 Taxes (35%) 1,960 Net income $3,640 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,660 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $29,200. Required: What is the external financing...
The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Balance Sheet Sales...
The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Balance Sheet Sales $ 32,200 Assets $ 75,600 Debt $ 38,800 Costs 18,550 Equity 36,800 Taxable income $ 13,650 Total $ 75,600 Total $ 75,600 Taxes (22%) 3,003 Net income $ 10,647 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $4,000 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be...
The most recent financial statements for Martin, Inc., are shown here: Income Statement Sales $16,000 Costs...
The most recent financial statements for Martin, Inc., are shown here: Income Statement Sales $16,000 Costs −9,600 Taxable income $6,400 Taxes (21%) −1,344 Net income $5,056 Balance Sheet Assets $44,800 Debt $22,000 Equity 22,800 Total $44,800 Total $44,800 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $970 was paid, and Martin wishes to maintain a constant payout ratio. Next year’s sales are projected to be $19,680. What is the external financing needed? (Do...
The most recent financial statements for Martin, Inc., are shown here: Income Statement Sales $28,000 Costs...
The most recent financial statements for Martin, Inc., are shown here: Income Statement Sales $28,000 Costs −16,800 Taxable income $11,200 Taxes (21%) −2,352 Net income $8,848 Balance Sheet Assets $114,800 Debt $60,000 Equity 54,800 Total $114,800 Total $114,800 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $895 was paid, and Martin wishes to maintain a constant payout ratio. Next year’s sales are projected to be $33,040. What is the external financing needed? (Do...
The most recent financial statements for Heine, Inc., are shown here:    Income Statement Balance Sheet...
The most recent financial statements for Heine, Inc., are shown here:    Income Statement Balance Sheet   Sales $ 33,600   Assets $ 54,100   Debt $ 22,100   Costs 25,600   Equity 32,000   Taxable income $ 8,000   Total $ 54,100   Total $ 54,100   Taxes (40%) 3,200       Net income $ 4,800       Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,500 was paid, and the company wishes to maintain a constant payout ratio. Next year’s...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT