The Optical Scam Company has forecast a sales growth of 25 percent for next year. The current financial statements are shown here: Income Statement Sales $ 32,100,000 Costs 26,512,400 Taxable income $ 5,587,600 Taxes 1,955,660 Net income $ 3,631,940 Dividends $ 1,452,776 Addition to retained earnings 2,179,164 Balance Sheet Assets Liabilities and Owners' Equity Current assets $ 7,370,000 Short-term debt $ 7,383,000 Long-term debt 5,162,750 Fixed assets 18,952,000 Common stock $ 1,707,250 Accumulated retained earnings 12,069,000 Total equity $ 13,776,250 Total assets $ 26,322,000 Total liabilities and equity $ 26,322,000 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.)

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