32. (15 points) The Optical Scam Company has forecast a sales growth rate of 20 percent for next year The current financial statements are shown below. Assuming that assets, COGS, and short-term carnave the same growth rate as sales, and that the retention ratio does not change, what is the external financing needed for next year? Income Statement Sales COGS 31,700,000 26,426,900 Taxable income Taxes 5,273,100 1,845,585 Net income $ 3,427,515 Dividends Addition to retained earnings $1,371,006 2,056,509 Balance Sheet Assets Liabilities and Equity Current assets 7,330,000 $ Short-term debt Long-term debt 5,389.000 7,291,000 Fixed assets 20,566,000 Common stock Accumulated retained earnings 959,000 14,257,000 Total equity $ 15,216,000 $ 27,896,000 Total assets $ 27,896,000 Total liabilities and equity