Problem 18-12 Using Percentage of Sales (LO2) Eagle Sports Supply has the following financial statements. Assume that Eagle's assets are proportional to its sales. INCOME STATEMENT, 2019 Sales $1,350 Costs 260 Interest 70 Taxes 210 Net income $ 810 Assets $ BALANCE SHEET, YEAR-END 2018 2019 3,600 $ 3,900 Debt Equity 3,600 $ 3,900 Total $ $ 2018 900 2,700 3,600 2019 1,000 2,900 3,900 Total $ $ $ cable mustdiate cal.400 and do a. Find Eagle's required external funds if it maintains a dividend payout ratio of 50% and plans a growth rate of 20% in 2020. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. If Eagle chooses not to issue new shares of stock, what variable must be the balancing item? c. What will be the value of this balancing item? (Do not round intermediate calculations. Round your answer to 2 decimal places.) d. Now suppose that the firm plans instead to increase long-term debt only to $1,100 and does not wish to issue any new shares of stock. What is now the balancing item? e. What will be the value of this new balancing item? (Do not round intermediate calculations. Round your answer to the nearest whole number.) & Answer is complete but not entirely correct. a. External funding need Balancing item Value Balancing item Value $ 294.00 Debt 1,194.00 % Retained earnings 3,094 X