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The most recent financial statements for Crosby, Incorporated, appear below. Sales for 2 0 2 2 are projected to grow by 2 0 percent. Interest

The most recent financial statements for Crosby, Incorporated, appear below. Sales for 2022 are
projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend
payout rate also will remain constant. Costs and other expenses increase spontaneously with sales.
If we assume that Capital Intensity and Debt to Equity Ratios are held constant, what external financ-
ing is needed to support the 20 percent growth rate in sales?
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