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Using Percentage of Sales

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PLEASE DO NOT TAKE THIS PROBLEM UNLESS YOU CAN ANSWER EVERY PART OF THIS PROBLEM!!! Attached is an Excel spreadsheet that has the income statement and balance sheet needed to complete the problem.
ABC Sport supply has the following financial statements (see attached). Assume that ABC's assets are proportional to its sales.
A)Find ABC's required external funds if it maintains a dividend payout ratio of 70 percent and plans a growth rate of 15% in 2004.

B)If ABC chooses not to issue new shares of stock, what variable must be the balancing item? What will its value be?

C)Now suppose that the firm plans instead to increase long term debt only to $1100 and does not wish to issue any new shares of stock. Why must the dividend payment now be the balancing item? What will its value be?

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