Based on following financial statements for Williams& Sons, calculate the External Financing Needed (EFN) given that firm expects sales to grow by %16 and currently company is operating at full capacity. Assume that cost of goods sold, operational expenses, assets and current liabilities are directly proportional to sales, rent expense and interest expense are fixed. Williams& Sons is willing to keep their plowback ratio constant. Income Statement (in thousands) Sales Revenue Cost of Goods Sold Gross Profit Operational Expenses $35,500 ($22,720) $12,780 ($9,940) Rent Expense EBIT Interest Expense EBT Tax Expense Net Income Dividends Add. to Retained Earnings ($950) $1890 ($550) $1340 ($402) $938 ($281.4) $656.6 Assets Current Assets Fixed Assets Total Assets Balance Sheet (in thousands) $1270 $5450 $6720 Liabilities and Stockholders' Equity Current Liabilities $940 Long-Term Debt $3150 Total Liabilities $4090 Stockholders' Equity $2630 Total Liabilities and Stockholders' Equity $6720