QUESTION 20 Given the financial statements below for Dragonfly Enterprises, what is the external financing need for a pro forma increase in sales of 20% if the company is operating at 90% capacity? Enter your answer as the nearest whole (e.g., 123), but do not include the $ sign. Dragonfly Enterprises Income Statement ($ Million) 2011 Sales 370 Cost of Goods Sold 226 62 20 Selling, Gen & Admin Exp Depreciation Earnings Before Int & Tax Interest Expense Taxable Income 62 12 50 50 20 Taxable Income Taxes at 40% Net Income Dividends Addition to Retained Earn. 30 9 21 Balance Sheets as of 12-31 Assets 2010 2011 Cash 10 10 46 50 43 45 Account Receivable Inventory Total Current Assets Net Fixed Assets 99 105 166 195 Total Assets 265 300 2010 2011 26 30 0 0 26 30 Liabilities and Owners Equity Accounts Payable Notes Payable Total Current Liabilities Long-Term Debt Common Stock Retained Earnings Total Liab. and Owners Eq 140 150 22 22 77 98 265 300