Homework Saved The 2019 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2019 Sales Costs EBIT Interest expense Taxable income Taxes (at 218) Net Income Dividends $ 43,608 Addition to retained earnings $ 29,072 $ 330,000 215.000 $ 115,000 23,000 $ 92,000 19,320 72,680 Assets Current assets Cash Accounts receivable Inventories Total current assets Net plant and equipment BALANCE SHEET, YEAR-END, 2019 Liabilities Current liabilities $ 9.000 Accounts payable 14,000 Total current liabilities 37.000 Long-term debt $ 60,000 Stockholders' equity 270,000 Common stock plue additional paid-in capital Retained earnings $ 330,000 Total liabilities plus stockholders' equity $ 16,000 $ 16,000 230,000 15,000 69,000 $ 330,000 Total assets Sales and costs are projected to grow at 30% 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 75% 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 payo ratio of 0.60 What is the required external financing over the next year? (Enter excess cash as a negative number with a minus sign. External financing