# 15 2 Problem 18-12 Using Percentage of Sales (LO2) Saved Eagle Sports Supply has the following financial statements. Assume that Eagle's assets are proportional to its sales. INCOME STATEMENT, 2022 10 points Sales $ 900 Costs Interest Taxes 170 50 120 Net income $ 560 eBook 2021 Assets Hint $ 2,700 BALANCE SHEET, YEAR-END 2022 $ 3,000 Debt Equity Total $ 2,700 $ 3,000 Total Print References 2021 2022 $ 900 1,800 $ 1,000 2,000 $ 2,700 $ 3,000 a. Find Eagle's required external funds if it maintains a dividend payout ratio of 50% and plans a growth rate of 20% in 2023. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. If Eagle chooses not to issue new shares of stock, what variable must be the balancing item? c. What will be the value of this balancing item? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. d. Now suppose that the firm plans instead to increase long-term debt only to $1,100 and does not wish to issue any new shares of stock. What is now the balancing item? e. What will be the value of this new balancing item? Note: Do not round intermediate calculations. Round your answer to the nearest whole number. a. External funding need b. Balancing item Debt c. Value d. Balancing item Retained earnings e. Value Help Save & Exit Submit Check my work