The most recent financial statements for Mandy Company are shown here: Income Statement Balance Sheet $ Current assets $12,000 Debt 20,400 Costs 14,000 Fixed assets 32,850 Equity Sales $ 16,600 28,250 Taxable income $ 6,400 Total Total 44,850 $ 44,850 Taxes (22%) 1,408 Net income $ 4,992 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 35 percent dividend payout ratio. What is the internal growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded 2 decimal places, e.g., 32.16.) Internal growth rate % Consider the following simplified financial statements for the Wesney Corporation (assuming no income taxes): Income Statement Balance Sheet $ Sales 39,200 Assets $21,600 Debt $ 6,600 Costs 32,650 Equity 15,000 Net income $ 6,550 Total $ 21,600 Total $ 21,600 The company has predicted a sales increase of 16 percent. Assume the company pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Pro forma income statement Sales $ 45,472 Costs 37,874 Net income s 7,598 Answer is complete but not entirely correct. Pro forma balance sheet Assets $ 25,056 Debt Equity Total Assets 25,056 Total Debt and Equity $ 6,600 15,900 21,600 $ $ What is the external financing needed? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Answer is complete but not entirely correct. External financing needed s 3,456