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Business, 03.04.2020 17:44 isabelvaldez123

The most recent financial statements for Cornwall, Inc., are shown here:
Income Statement Balance Sheet

Sales $ 6,700
Current assets $ 3,400
Current liabilities $ 2,200
Costs 5,300
Fixed assets 10,200
Long-term debt 3,750
Taxable income $ 1,400
Equity 7,650
Taxes (34%) 476
Total $ 13,600
Net income $ 924

Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 25 percent.
What is the external financing needed?

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The most recent financial statements for Cornwall, Inc., are shown here:
Income Statement Bala...
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