Given the following financial statements, calculate the external funds needed $($EFN$),$ The expected growth in sales is $15\%$ a$)$ Using the EFN equation:

EFN $=$ Increase in Sales $x$ Assets $-\frac{\text{S}\text{p}\text{o}\text{n}\text{a}\text{n}\text{e}\text{o}\text{u}\text{s}\text{L}\text{i}\text{a}\text{b}\text{i}\text{l}\text{i}\text{t}\text{i}\text{e}\text{s}}{\text{S}\text{a}\text{l}\text{e}\text{s}}$ Increase in Sales $-$ Profit Margin $***$ Projected Sales $x(1-$Payout$)$

b$)$ Create proforma statements, and calculate the EFN for an expected sales growth of $15\%$

c$)$ If there isnt a dividend payment, calculate the Proforma Statements and the EFN$|$