The Optical Scam Company has forecast a sales growth of 20 percent for next year. The current financial statements are shown here:

Income Statement
Sales			$	31,800,000
Costs				27,003,300
Taxable income			$	4,796,700
Taxes				1,678,845
Net income			$	3,117,855
Dividends	$	1,247,142
Addition to retained earnings		1,870,713

Balance Sheet
Assets				Liabilities and Owners' Equity
Current assets	$	7,340,000		Accounts payable	$	5,088,000
				Long-term debt		2,345,250
Fixed assets		19,372,000
				Common stock	$	5,924,750
				Accumulated retained earnings		13,354,000
				Total equity	$	19,278,750
Total assets	$	26,712,000		Total liabilities and equity	$	26,712,000

a.	Using the equation from the chapter, calculate the external financing needed for next year. (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.)

b-1.	Construct the firms pro forma balance sheet for next year. (Do not round intermediate calculations and round your answers to the nearest whole dollar amount, e.g., 32.)

b-2.	Calculate external financing needed. (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.)

c.	Calculate the sustainable growth rate for the company based on the current financial statements. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)