Alter Inc. plans togrow sales at a 10% annual rate for 2016 Interest expense in 201 at $3,000. Assuming that income statement and balance sheet relationships that the tax rate is 20%. is expected to remain to sales are unchanged and Alter, Inc (2015) $145,000 Sales COGS EBIT $150,000 Assets $ 120,000 $30,000 Current liabilities Interest EBT Tax Net income Dividends $27,000 Total equity $ 5,400 Total Liabilities & Equity $ $21,600 $ 10,800 $5,000 $3,000 Total long-term debt 60,000 $80,000 145,000 23. Projected assets for 2016 should be? a. Less than $150,000 b. Between $150,001 and 155,000 c. Between $155,001 and 160,000 d. Above $160,000 24. What is net income for 2016? a. Less than $22,000 b. Between $22,001 and 23,500 c. Between $23,501 and $25,000 d. Above $25,000 25. What is the total external funding need for 2016? a. b. c. d. Less than $60,000 Between $60,001 and $63,000 Between $63,001 and $65,000 Above $65,000