Coca-Cola Comparative income statements and balance sheets for Coca-Cola are shown below ($ millions). Year 2 Year 1 Income Statement Net sales. Cost of goods $20,092 6,044 $19,889 6,204 Gross profit. Selling, general, and administrative expense Depreciation and amortization expense Interest expense (revenue) 14,048 7,893 13,685 9,221 773 292 803 (308) 5,660 1,691 Income before tax 3,399 1,222 Income tax expense. Net income $ 3,969 $ 2,177 Outstanding shares 3,491 3,481 (continued) Year 2 Year 1 Balance Sheet $ 1,934 1,882 1,055 2,300 $ 1,892 1,757 Cash. Receivables.. 1,066 1,905 Inventories . Other current assets Total current assets 7,171 6,620 Property, plant, and equipment.. Accumulated depreciation . 7,105 2,652 6,614 2,446 4,453 10,793 Net property, plant, and equipment.. 4,168 10,046 Other noncurrent assets. Total assets... $22,417 $20,834 Accounts payable and Accrued liabilities. Short-term debt and current maturities of long-term debt . Income tax liabilities. $ 3,679 3,899 $ 3,905 4,816 851 600 Total current liabilities. 8,429 9,321 Deferred income taxes and other liabilities. 1,403 1,219 1,362 Long-term debt . 835 Total noncurrent liabilities 2,622 2,197 Common stock 873 870 Capital surplus. Retained earnings. 3,520 20,655 13,682 3,196 18,543 13,293 Treasury stock. Shareholders' equity. 11,366 9,316 . Total liabilities and equity.. $22,417 $20,834 Required: a. Use the following ratios to prepare a projected income statement, balance sheet, and statement of cash flows for Year 3. Sales growth Gross profit margin. Selling, general, and administrative expense/Sales. Depreciation expense/Prior-year PPE gross. Interest expense/Prior-year long-term debt Income tax expense/Pretax income . 1.02% 69.92% 39.28% 12.14% 5.45% 29.88% Accounts receivable turnover 10.68 Inventory turnove... Accounts payable turnover. Taxes payable/Tax expense . Total assets/Stockholders' equity (financial leverage). . 2.06 Dividends per share Capital expenditures/Sales.. 5.73 1.64 50.33% $1.37 5.91% b. Based on your initial projections, how much external financing (long-term debt and/or stockholders' equity) will Coca-Cola need to fund its growth at projected increases in sales?