2. The most recent financial statements for Nash Incorporated, appear below. Sales Operating Expenses Depreciation Earnings before interest and taxes Interest expense Taxable income Taxes (20%) Net income Dividends Addition to retained eamings NASH INCORPORATED 2022 Income Statement $750,000 650,000 50,000 $50,000 14,800 $35,200 7,040 $28, 160 $8,448 19,712 NASH INCORPORATED Balance Sheet as of December 31, 2022 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash: $26,000 Accounts payable $80,000 Accounts receivable 36,000 Notes payable 20,000 Inventory 70,000 Total Current Liabilities $100,000 Total Current Assets $132,000 Long-term debt $148,000 Fixed assets Owners' equity Net plant and equipment $300,000 Common stock and paid-in surplus $139,000 Retained earnings 45,000 Total Owners' Equity $184,000 Total assets $432,000 Total liabilities and owners' equity $432,000 Nash's sales for 2023 are projected to grow by 18 percent. Nash's tax rate of 20% and its dividend payout ratio of 30% are expected to remain the same in 2023. Interest expense will remain constant. Operating expenses, depreciation, all asset accounts, and accounts payable are expected to grow at 18 percent (with sales). a. Calculate Nash's external funds needed (EFN) to support the assumed 18% growth rate given the assumptions stated above. (6 points) b. Calculate Nash's sustainable growth rate. (4 points) c. Use your prior two answers to discuss the financial implications of Nash's 18% growth plan. (3 points)