The Longbranch Western Wear Company has the following financial statements $,$ which are representative of the company's historical average $.\backslash$$$200,000$ underline $164,300$; $35,700$ Income Statement SalesExpenses Earnings before interest and taxes Interest Earnings before taxes Taxes Earnings after taxes Dividends $3,70032,00010000$; $\backslash$$$22,00011,000515,700$ Assets CashAccounts receivable Inventory Current assets Capital assets Balance Sheet Liabilities and Shareholders Equity $3,000$ Accounts payable $27,000$ Accrued wages $2,90832,000$ Accrued taxes $15,40062,000$ Current liabilities $34,00087,000$ Notes payable $8,700$ Long $-$ term debt $23,500$ Common stock $37,000$ Retained earnings $45,800149,000$ Total liabilities and equity $ $149,000$ Total assets Longbranch 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 expected to be carried out without any expansion of capital assets instead $,$ it will be done through more efficient asset utilization in the existing stores Of $,$ only current liabilities vary directly with sales Using a percent $-$ of $-$ sales method $,$ determine whether Longbranch Western Wear has external financing needs $($ Input the amount as positive value $.)$ The firm Click to select Click to select term.Using a percent $-$ of $-$ sales method $,$ determine whether Longbranch Western Wear has external financing needs $.($ Input the amount as positive value $.)$ The firm Click to select $ Click to select b $.$ Prepare a pro forma balance sheet with any financing adjustment made to notes payable and excess $,$ any $,$ shall reduce long term debt $.($ Input all answers as positive values $.$ Be sure to the assets and In order of their liquidity $.$ Do not leave any empty spaces ; Input a wherever is required $.)$ Balance Sheet Liabilities Current assets $($ Click to select $)($ Click to select $)$ Click to select $)$ Click to select $)($ Click to select $)$ Click to select $)$ Current assets Click to select $)$ Current liabilities $($ Click to select $)$ Click to select $)$ Click to select $)$ Click to select $)$ Total assets Total liabilities and equity $.$ Calculate the current ratio and total debt to assets ratio for each year $($ Round the final answers to $2$ decimal places $.)$ Year $1$ Year $2$ Current ratio Total debt $/$ assets $\%.$