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1. Plank's Plants had net income of $5,000 on sales of $90,000 last year. The firm paid a dividend of $1,550. Total assets were $300,000, of which $150,000 was financed by debt. a. What is the firm's sustainable growth rate? (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.) Sustainable growth rate % b. If the firm grows at its sustainable growth rate, how much debt will be issued next year? (Do not round intermediate calculations.) New debt = c. What would be the maximum possible growth rate if the firm did not issue any debt next year? (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.) Maximum growth rate % 2. An all-equity-financed firm plans to grow at an annual rate of at least 27%. Its return on equity is 42%. What is the maximum possible dividend payout rate the firm can maintain without resorting to additional equity issues? (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.) Maximum dividend payout ratio % 3. The 2017 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2017 Sales $ 340,000 Costs 220,000 EBIT $ 120,000 Interest expense 24,000 Taxable income $ 96,000 Taxes (at 35%) 33,600 Net income Dividends Addition to retained earnings $ 62,400 $ 18,720 43,680 BALANCE SHEET, YEAR-END, 2017 Assets Liabilities Current assets Current liabilities Cash $ 3,000 Accounts receivable 8,000 Inventories 29,000 Total current assets Net plant and equipment $ 40,000 280,000 Accounts payable Total current liabilities Long-term debt Stockholders' equity Common stock plus additional paid-in capital Retained earnings Total assets $ 320,000 Total liabilities and stockholders' equity Sales and costs are projected to grow at 40% a year for at least the next 4 years. Both current assets and accounts payable are projected to rise in proportion to sales. The firm is currently operating at full capacity, so it plans to increase fixed assets in proportion to sales. Interest expense will equal 10% of long-term debt outstanding at the start of the year. The firm will maintain a dividend payout ratio of 0.30. What is the required external financing over the next year? (Negative amounts should be indicated by a minus sign.) External financing =