The most recent financial statements for Martin Inc are shown here: Income Statement Balance...
Question:
The most recent financial statements for Martin Inc. are shown here:
Income Statement Balance Sheet
Sales $25,800 Assets $113,000 Debt $20,500
Costs 16,500 Equity 92,500
Taxable Income 9,300 Total $113,000
Taxes (34%) 3,162 Net Income 6,138
Assets and costs are proportional to sales. Debt and equity are not. A dividend of $ 1,841.40 was paid and Martin wishes to maintain a constant payout ratio. Next years sales are projected to be $30,960. What external financing is needed?
Plug Figure:
When projecting future balance sheet items, a plug figure is an account, or accounts, used to make sure the balance sheet is in balance. For example, the external financing needed is a plug figure, which ensures that the balance is preserved after all other accounts are forecasted.
Answer and Explanation: 1
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View this answerThe dividend payout ratio, d, can be computed as:
- d = Dividend / Net income
- d = 1,841.40 / 6,138
- d = 0.3
The profit margin (PM) formula is:
- PM = Net...
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External Financing Needed | EFN Definition, Formula & Examples
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