30. Spreadsheet Problem. Use a spreadsheet like that in Figure 18-2 to answer the following questions about Executive Fruit: (LO2)

a. What would be required external financing if the growth rate is 15% and the dividend pay- out ratio is 60%?

b. Given the assumptions in part (a), what would be the amount of debt and equity issued if the firm wants to maintain its debt-equity ratio at a level of /?

c. What formulas would you put in cells H20 and H21 (as well as the corresponding cells in columns F and G) of the spreadsheet in Figure 18-2 to maintain the debt-equity ratio at 2/3 while forcing the balance sheet to balance (that is, forcing debt + equity = total assets)?