The Manning Company has financial 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 out without 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. Sales Expenses Income Statement Earnings before interest and taxes Interest Earnings before taxes Taxes Earnings after taxes Dividends Assets $220,000 158,000 $ 62,000 9,400 $ 52,600 17,400 $ 35,200 $ 8,800 Balance Sheet Liabilities and Stockholders' Equity Accounts payable $ 25,700 Accrued wages Cash Accounts receivable Inventory $ 5,000 61,000 77,000 Current assets Fixed assets $ 143,000 89,000 Accrued taxes Current liabilities Notes payable Long-term debt Common stock Retained earnings Total assets 2,400 4,900 $ 33,000 9,400 27,000 128,000 34,600 $ 232,000 Total liabilities and stockholders' equity $ 232,000 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.) > Answer is complete but not entirely correct. The firm needs + $ 3,024 in external funds.