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The most recent financial statements for Bearcat Machine, Inc., are shown below. Bearcat Machine, INC. 2020 Income Statement Sales Costs Other expenses Earnings before interest

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The most recent financial statements for Bearcat Machine, Inc., are shown below. Bearcat Machine, INC. 2020 Income Statement Sales Costs Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (21%) Net income Dividend Addition to retained earnings $683,520 567,240 17,320 $98,960 15.780 583,180 17468 65,712 22,719 42,993 Current assets Cash Account receivable Inventory Total Bearcat Machine, INC. Balance Sheet as of December 31, 2020 Current liabilities 520,654 Accounts payable 29,718 Notes payable 70.966 Total $121,338 Long-term debt Owners' equity Common stock and paid-in surplus $337 320 Accumulated retained earrings Total $458,658 Total liabilities and owners' equity $55,080 13.776 $68,856 $127,000 Fixed asset Net plant and equipment $105,000 157 802 $262.802 $458,658 Total Asset Sales for 2021 are projected to grow by 20%. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. If the firm is operating at full capacity and no new debt or equity is issued, what is the external financing needed to support to the 20 percent growth rate

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