The Optical Scam Company has forecast a sales growth rate of 25 percent for next year. Current assets, fixed assets, and short-term debt are proportional to sales. The current financial statements are shown here:

INCOME STATEMENT
Sales		$ 31,100,000
Costs		26,382,300
Taxable income		$ 4,717,700
Taxes		1,651,195
Net income		$ 3,066,505
Dividends	$ 1,226,602
Addition to retained earnings	1,839,903

BALANCE SHEET
Assets	Liabilities and Equity
Current assets	$ 7,270,000	Short-term debt	$ 6,220,000
Fixed assets	17,299,000	Long-term debt	4,354,000
		Common stock	$ 2,516,000
		Accumulated retained earnings	11,479,000
		Total equity	$ 13,995,000
Total assets	$ 24,569,000	Total liabilities and equity	$ 24,569,000

a. Calculate the external funds needed for next year using the equation from the chapter.

Note: Do not round intermediate calculations.

b-1. Prepare the firms pro forma balance sheet for next year.

Note: Do not round intermediate calculations

b-2. Calculate the external funds needed.

Note: Do not round intermediate calculations.

c. Calculate the sustainable growth rate for the company based on the current financial statements.

Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.