24,--A firm has revenue of $500K, and a profit margin of 10% for the current year. The balance sheet for the current year shows current assets of $100K, fixed assets of S300K, and current liabilities of S200K. The company does not have any long term debt. The company expects sales to grow by 10% next year. Using the assumptions below, what is the external financing needed for next year? Sales growth is 10% All expenses vary with sales sales Fixed assets are at 100% utilization and thus require growth The company's dividend payout ratio is 45.455% a. b. c. d. $10K shortfall (EFN needed) S10K surplus (excess cash available) S40K of surplus (excess cash available) $40K shortfall (EFN needed)