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D Connect E] https eztomheducationcom '- AF'erformante EMail berry Home N Blackboard 9' llege EMail in [in Indeed Thnft Sewn, '- Other'iavorites Homework 2 0 Saved Help Seven Exit Submit w 11 The Manning Company has nancial 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 outwithout any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. Among liabilities. only current liabilities vary directly with sales. 2 poms Income Statement Sales $249,966 Expenses 131,266 Earnings before interest and taxes $ 58,866 Interest 7,466 Earnings before taxes at 51,496 Taxes 15,d09 eBook 7 Earnings after taxes $ 36 996 Hlnl Dividends $ 12,696 i Print Balance sheet Assets liabilities and Stockholders' Equity Cash $ 5,666 Accounts payable 3, 23,366 Accounts receivable 57,999 Accrued wages 1,896 Inventory 81,069 Accrued taxes 3,766 Current assets $144,999 Current liabilities $ 28,896 Fixed assets 84,666 Notes payable 7,466 Long-term debt 17,966 Common stock 124,966 Retained earnings 59,896 Total assets $225,080 Total liabilities and stockholders' equity 1 228,666 Using the percent-ofsales 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.) Connect X Homework Help - Q&A from On x *Chapter 4 bsn 320 : BUS 320 : Lib x + X ( ) https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flearn.liberty.edu%252Fweba. APerformance EMail Lu Liberty Home Bb Blackboard College EMail in Linkedin i Indeed Thrift Savings Plan G Google Other favorites Homework 2 i Saved Help Save & Exit Submit Check my work 11 Balance Sheet Assets Liabilities and Stockholders' Equity Cash $ 000'9 Accounts payable 23, 300 Accounts receivable 57,000 Accrued wages 1, 800 Inventory 81, 000 Accrued taxes 3,700 2 Current assets $ 144, 000 Current liabilities 28 , 800 points Fixed assets 84, 000 Notes payable 7, 400 Long-term debt 000' LI 8 02:09:25 Common stock 124, 000 Retained earnings 50 , 800 Total assets $ 228,000 Total liabilities and stockholders' equity $ 228, 000 eBook Hint 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.) Print The firm has Mc Graw Hill ducation Type here to search S 21:49 07/09/2020