10.00 points The Manning Company has financial statements as shown next, which are representative of the company's historkcal average The firm is expecting a 35 percent increase in sales next year, and management is concerned about the company's need for extermal tunds. The increase in sales is expected to be carried out without ary expansion of fixed assets, but rather through more efficient asset utlization in the existing store. Among labities, only current liabilities vary directy with sales Income Statement $ 290,000 225,600 $ 64,400 Expenses Eanings before interest and taxes Interest Earnings before taxes Taxes 15,900 S 40,600 Earnings after taxes Dividends Balance Sheet 88 Assets Liabilities and Stock Equity $ 25.900 1,650 Cash Accounts receivable Inventory s 7.000 Accounts payable 60.000 Accrued wages 78,000 Accrued taxes S 145,000Current labiltes 89,000 Notes payable 30900- Current assets Fixed assets Long-term debt Common stock Retained eamings 7.900 19.500 129,000 45.700 $ 234,000 s 234,000 Total liabilibies and stockholders equity Total assets using the percent-of-sales methoa, determine whether the company has external financing needs, or a surplus of tunds. (Hint A pront margin and payout ratio must be found trom the ncome statement) (Do not round intermediate calculations.) firm enovo