Mornssey Technologles Inc.'s 2021 financial statements are shown here. Morrissey Technologies Inc.1 Income Statement for December 31, 2021 term debt) is 11. $%. Assume that any common stock issuances or cepurchases can be made at the firm's current atock price of \$37. a. Construct the forecasted financial statements assuming that these changes are made. What are the firm's forecasted notes payable and long-term debt balances? What is the forecasted addition to retained earnings? Round your answers to the nearest cent. Morrissey Technologies Inc.i Pro Forma Balance Sheet as of December 31, 2022 Morrissey Technologies Inc.: Pro Forma Balance Sheet as of December 31, 2022 other words, what is the firm's sustainable greeth rate? (Hint: Set AnN equal to zera and volve for g.) Round your answer to two decimal places. \begin{tabular}{|c|c|c|c|} \hline Common slock price & $3100 & & \\ \hline Earnings per shereneri. & 5240 & & \\ \hline Dividende per sharevert & $1,4 & & \\ \hline Growh rate of sales & 12% & & \\ \hline Common stock atstandingets & 100.000 & * & \\ \hline Operating costsisales rutionn. & & 1 & \\ \hline Total liabilifies-b-astets ritiont & 35 & + & \\ \hline Proportion of short-lerm interest-bearing detetit & & & \\ \hline Taxrate & 25% & & \\ \hline Before-tax cont of deds & 1150% & ?: & \\ \hline & & & \\ \hline \multirow{2}{*}{\multicolumn{4}{|c|}{ 2. Constructing the forecasted financlal statements (Parts II, , and N) }} \\ \hline & & & \\ \hline Sales & $3,20000000 & 50.12 & 2=82+81 \\ \hline Operaing costs including depreciztion & 2864+6000 & & sN/A \\ \hline Earnings belore interest and times (EBM) & 533636000 & & T/A \\ \hline Irterest & 1536000 & & NN/A \\ \hline Earrings belore taxes (EBT) & $300.00000 & & nN/A \\ \hline Taxes & 8000000 & & IN/A \\ \hline Net income (NI) & $240,00000 & & NiA \\ \hline Dividends & & & IN/A \\ \hline Addion to retained earnings & & & AN:A \\ \hline & & & \\ \hline Partili. Balance Shects & & 2002 & \\ \hline \multicolumn{4}{|l|}{ Assots } \\ \hline Cash & $160,00000 & & sN/A \\ \hline Receivables & 3200000 & & NN/A \\ \hline imvertories & 640,00000 & & In/A \\ \hline Total current assets & $1,120,00000 & & WN/A \\ \hline Fioed assots & 1,28000000 & & IN/A \\ \hline Total assets & 5200000000 & & BN/A \\ \hline \multicolumn{4}{|l|}{ Wabilises and Equy } \\ \hline Accourts payable & 52000000 & & MNA \\ \hline Accrued liabilities & 160,00000 & & INA \\ \hline Notes peyable & 520000 & & MNIA \\ \hline Toal current liabilises & & & T:A \\ \hline Long-term dett & 8000000 & & INA \\ \hline Todal liabilitios & $1200000 & & NNA \\ \hline Common stock & 1600000 & & INA \\ \hline Retained earrings & 189000 & & mNA \\ \hline Todal common equty & 51,73800000 & & ANA \\ \hline Total liabilites and equity & 5400,00000 & & RNA \\ \hline \multirow{2}{*}{\multicolumn{4}{|c|}{ PatY.Notes en Calelatens }} \\ \hline & & & \\ \hline Tocal liabilities & & & NN/A \\ \hline Less: Payabies and accruals & - & & AN/A \\ \hline interest-bearing det & 3 & & ANA \\ \hline & & & ANA \\ \hline Nlocated to long-term bonds & & & WNA \\ \hline Inter est expense & & & ANA \\ \hline Target equity-lo-assets rato & & & IN/A \\ \hline Required todal equily & 3 & & WN/A \\ \hline Retained earnings & & & INUA \\ \hline Required common stock & & & IN/A \\ \hline \multicolumn{4}{|c|}{ b. Calculat ing the growth rate in sales at which the additional financing requirements wall be exactly zero } \\ \hline Profitmargin & 7.50sin & & \\ \hline Dividend poyout rabo & cos5 & Formulas & \\ \hline Adstion to recained earningsy! & & RA & \\ \hline Growth ride in saies & & NiA & \\ \hline \end{tabular}