(Solution) - The most recent financial statements for Cornwall Inc are shown -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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

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 15 percent. What is the external financing needed?