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Question: the most recent financial statements for heine inc are shown...

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

  

Income Statement Balance Sheet
  Sales $ 28,200   Assets $ 57,500   Debt $ 25,300
  Costs 20,100   Equity 32,200
  Taxable income $ 8,100   Total $ 57,500   Total $ 57,500
  Taxes (40%) 3,240
  
   Net income $ 4,860
  

  

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,600 was paid, and the company wishes to maintain a constant payout ratio. Next year’s sales are projected to be $31,020.

  

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

External financing needed $ __________________________  

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