Help Save & Exit Sub Check my work The Manning Company has financial statements as shown next, which are representative of the company's historical average. The firm is expecting a 30 percent increase in sales next year, and management is concerned about the company's need for external funds The increase in sales is expected to be carried out without any expansion of foxed assets, but rather through more efficient asset utilization in the existing store. Among liabilities, only current abilities vary directly with sales Income Statement Sales $250,000 Expenses 184,800 Earnings before interest and taxes $ 65,20 Interest 8,600 Earnings before taxes $ 56,600 Taxes 16,600 Earnings after taxes $ 40,000 Dividends $ 16,000 Assets $ 23,5 2. 4.500 Accounts receivable Itwory Current sets Fixed assets Balance Sheet Lities and Stockholders' fuity $ 4.000 Accounts payable 53.600 Accrued wages 68,000 Acer taxes $ 125.000 Current liabilities 96,000 Notes payable Longtere det Common stock 21.00 TOAM e O pe here to search pim-I-Aakh ER X $ & 7 9 8 0 6 1 2 3 O 1 Y U E R w Q J TIL K H G F 1 D S A N M V - IN V x B Pous Alt PISC Cm All Swed Help Save & Exit Check my Assets Cash Accounts receivable Inventory Current assets Fixed assets Balance Sheet Liabilities and Stockholders' Equity $ 4,600 Accounts payable 53,000 Accrued wages 68,eee Accrued taxes $ 125,000 Current liabilities 96,000 Notes payable Long-tere debt Connon stock Retained earnings $ 221,000 Total liabilities and stockholders' equity $ 23,500 2.000 4,500 $ 30,000 23,000 120,000 39,400 $ 221, Bee Total assets Using the percent-of-sales method determine whether the company has external financing needs, or a surplus of funds (Hint A profit margin and payout ratio must be found from the income statement.) (Do not round intermediate calculations.) The fem at 1027 1024 e 9 v o pe here to search pimtak NP & 7 $ 4 % 5 9 6 8 FC NS 3 O P Y U T Q W E R . HJK D F S G IA M N N V B Alt Pitsc cm Alt