6. The most recent financial statements for Moose Tours, Inc., follow. Sales for 2009 are projected to grow by 20 percent. Interest expense, the tax rate% and the dividend pay-out rate will remain constant. Costs, other expenses, current assets, and accounts payable increase with sales. If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the growth rate in sales? MOOSE TOURS, INC. Balance Sheet as of December 31, 2008 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,300 Accounts payable $ 68,000 Accounts receivable 40,700 Notes payable 17,000 Inventory 86,900 Total $ 85,000 Total $152,900 Long-term debt $158,000 Fixed assets Owners' equity Net plant and equipment 413,000 Common stock and paid-in surplus $140,000 Retained earnings 182,900 Total $322,900 Total assets $565,900 Total liabilities and owners' equity $565,900 MOOSE TOURS, INC. 2008 Income Statement Sales $929,000 Costs 723,000 Other expenses 19,000 Earnings before interest and taxes $187,000 Interest paid 14,000 Taxable income $173,000 Taxes 60,550 Net income $112,450 Dividends $33,735 Addition to retained earnings 78,715