Bengal Tigers Incorporation is one of the fastest-growing technology companies in the. country. During the. COVID-19 period in 2020, the company c.ould not make a satisfactory profit. However, the management of Bengal Tigers Incorporation has decided on a sales growth rate of 15 percent for next year. The financial statements of2020 are shown here: lncome Statement Revenue 752500 Cost5 85600 Other Expenses 15400 Profit before interest and tax 151500 Interest Expense 11340 Profit before Tax 140160 Taxes 49056 Profit after tax 91104 Dividends 27331 Addition to Retained Earnings 63773

Balance Sheet Asset Current Assets 1,30,731 Fixed Assets 3,53,120

Total 483851 Liabilities & Owner's Equity

Current Liabilities 72,675

Long Term Debt 1,35,000

Owner 's Equity Common Stock 115000

Re.tained Eamings 161176

total 483851 Requirement: i. Using the. equation from the chapter, calculate. the. external funds needed for next year. ii. Construct the firm's pro forma balance sheet for next year and confirm the external funds needed that you calculated in part (i). iii. Calculate the sustainable growth rate for the company iv. Can the company eliminate the. need for external funds by changing its dividend policy? what other options are available to the company to meet its growth objectives?