Homework Answers
Growth rate in sales=(33972-29800)/29800=14%
Dividend payout ratio=Dividend/Net income
=(3400/9009)=0.377400377
| Sales | 33972 |
| Costs(18250*1.14) | 20805 |
| Taxable income | $13167 |
| Taxes(22%*$13167) | $2896.74 |
| Net income | $10270.26 |
| Less:Dividends($10270.26*0.377400377) | $3876 |
| Addition to retained earnings | $6394.26 |
Total assets would be=$70800*1.14=$80712
Total equity would be=$36200+Addition to retained earnings
=$36200+$6394.26=$42594.26
Total assets=Total equity+Total liabilities
Hence external financing needed=$80712-$42594.26-$34600
which is equal to
=$3517.74
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