A firm has the following account balances for this year. Sales for the year are $420,000 Projected sales for next year are $441000. The percentage of sales approach is used for pro forma purposes. All balance sheet accounts, except long-term debt and common stock change according to that approach. The impuns to decrease the long-term crot balance by $23.500 next year. Retained earrings is expected to increase ty $5.400 next year What is the projected extema financing need? Current assets Net fixed assets Current liabilities Long-term debt Con stock Retained earnings $ 84, ecc $ 270,000 5 56.000 5 154.000 $ 50,000 591,00 Muito Chance 394350 $26.850 2150 O 5:36.000 356,350 A firm has the following account balances for this year. Sales for the year are $420,000. Projected sales for next year are $441.000. The percentage of sales approach is used for pro forma purposes. All balance sheet accounts, except long-term debt and common stock, change according to that approach. The firm plans to decrease the long-term debt balance by $23,500 next year Retained earnings is expected to increase by $5.400 next year What is the projected external financing need? Current assets Net fixed assets Current liabilities Long-term debt Common stock Retained earnings $ 84,000 $ 270,000 $ 56,000 $ 154,000 $ 50,000 $ 91,000