Calculate LEE Corp.s external funds needed (EFN) for the fiscal year of 2024 using the pro forma statement approach. Assume that the percentages of sales for cost of goods sold, current assets and current liabilities remain unchanged at their respective values in 2023. In addition, the dividend payout ratio is assumed to remain unchanged. Besides, assume that LEE Corporation needs to expand its plant capacity with a new equipment that costs $600 million, if needed, to support the 15% projected growth rate in the sales level for 2024. Suppose LEE Corp. was operating at 88% capacity in 2023! Please show all work / calculations.

LEE Corp. \begin{tabular}{|c|c|c|} \hline Income Statement (in millions) & & 2023 \\ \hline Net Sales & & $2,000 \\ \hline Cost of Goods Sold & & $1,300 \\ \hline Depreciation Expenses & & $240 \\ \hline Earnings Before Interest and Taxes & & $460 \\ \hline Interest Expenses & & $100 \\ \hline Taxable Income & & $360 \\ \hline Taxes (21%) & & $75.6 \\ \hline Net Income & & $284.4 \\ \hline Dividends Paid & & $138 \\ \hline Balance Sheet (in millions) & 2022 & 2023 \\ \hline CurrentAssetsNetFixedAssetsTotalAssets & $576$2,124$2,700 & $580$2,340$2,920 \\ \hline CurrentLiabilitiesLong-termDebtCommonStock&Paid-inCapitalRetainedEarningsTotalLiabilitiesandEquity & $980$278$700$742$2,700 & $950$349$684$937$2,920 \\ \hline \end{tabular}