35) You are the CFO of Detroit City Spirits and your sales department has targeted sales growth of 14%. Based on that, please prepare a proforma Balance Sheet and Income Statement and determine the external funds needed to achieve that projected growth. Also calculate the sustainable growth rate based on the external funds needed. The current years financial statements are provided below. (12pt) Balance Sheet Current assets $ Fixed assets 7.752.150 19,000,000 Accounts payable Long-term debt $ 5,564,000 6,000,000 Common stock $ 3,200,000 Accumulated retained earnings 11.988,150 Total equity $ 15,188,150 Total assets $ 26,752.150 Total L&E $ 26,752,150 Income Statement Sales $ 25.729.220 Costs 22.892,650 Taxable income $ 2,836,570 Taxes 662,750 Net income S 2,173,820 Dividends 385,000 Addition to retained earnings 1,788,820