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Here are the abbreviated financial statements for Planner's Peanuts: INCOME STATEMENT, 2019 Sales Cost Net income $6,000 4,700 $1,300 BALANCE SHEET, YEAR-END Assets 2018


 



Here are the abbreviated financial statements for Planner's Peanuts: INCOME STATEMENT, 2019 Sales Cost Net income $6,000 4,700 $1,300 BALANCE SHEET, YEAR-END Assets 2018 $9,500 2019 $10,000 Debt Equity 2018 $ 933 8,567 Total $9,500 $10,000 Total $9,500 2019 $ 1,000 9,000 $10,000 Assets are proportional to sales. If the dividend payout ratio is fixed at 50%, calculate the required total external financing for growth rates in 2020 of (a) 20%, (b) 25%, and (c) 30%. (Do not round intermediate calculations. Round your answers to 2 decimal places.) External Financing Need (a) 20% (b) 25% (c) 30%

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