(Fo 14 Below is Financial informantion for 2020 for the Carry Corp. The company expects to experience sales growth in 2021 of 15. For 2021, assets and costs are expected to be proportional to sales, and debt and equity are not Dividends of End $144,000 were paid in 2020 and the payout ratio will remain the same in 2021 Beg Depo 1) Calculate the internal growth rate? 2) Given your calculated internal growth rate and the projected growth rate 15%, will the company need external 10 borrowings in 2021? 2) Calculate the sustainable growth rate? 12 4) if the company grows at the sustainable growth rate, how does the debt to equity ratio change? 13 SHOW YOUR WORK 15 16 17 18 2020 2020 19 Sales $ 1,345,000 Total Assets $ 1,250,000 20 COGS 875,000 21 Operating expenses 150,000 Liabilities 425,000 22 EBT 320,000 Equity 825,000 23 Taxes @ 25% 80,000 Total Liabilities/Equity $ 1,250,000 24 Net Income 240,000 25 26 27 28