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

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 $ 31,700,000 26,426,900 Costs Taxable income Taxes $ 5,273,100 1,845,585 Net income $ 3,427,515 Dividends Addition to retained earnings $1,371,006 2,056,509 Balance Sheet Assets Liabilities and Owners' Equity Current $ 7,330,000 Accounts payable $ 5,389,000 assets Long-term debt 7,291,000 20,566,000 Fixed assets Common stock Accumulated retained earnings $ 959,000 14,257,000 Total equity $ 15,216,000 27,896,000 Total assets $ Total liabilities and equity 27,896,000 $ 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.) Answer is complete but not entirely correct. External financing needed $ 2,036,408 x b-1. Construct the firm's 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.) Assets Current assets Fixed assets $ $ Answer is complete but not entirely correct. Balance Sheet Liabilities and equity 8,796,000 Accounts payable 24,679,200 Long-term debt Common stock Accumulated retained earnings Total equity 33,475,200 Total liabilities and equity $ $ 6,466,800 7,291,000 959,000 14,257,000 18,259,200 31,438,792 Total assets $ b-2. Calculate external financing needed. (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.) Answer is complete but not entirely correct. External financing needed $ 2,036,408 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.) Answer is complete but not entirely correct. Sustainable growth rate 13.16 %