The Optical Scam Company has forecast a sales growth rate of 20 percent for next year. The current financial statements are shown here: Income Statement | Sales | | | $ | 32,400,000 | Costs | | | | 28,531,000 | | | | | | Taxable income | | | $ | 3,869,000 | Taxes | | | | 1,354,150 | | | | | | Net income | | | $ | 2,514,850 | | | | | | Dividends | $ | 1,005,940 | | | Addition to retained earnings | | 1,508,910 | | | | Balance Sheet | Assets | | Liabilities and Equity | | Current assets | $ | 7,400,000 | | Short-term debt | $ | 7,128,000 | | | | | | Long-term debt | | 3,969,000 | | Fixed assets | | 17,872,000 | | | | | | | | | | | | | | | | | | Common stock | $ | 2,941,000 | | | | | | Accumulated retained earnings | | 11,234,000 | | | | | | | | | | | | | | Total equity | $ | 14,175,000 | | | | | | | | | | Total assets | $ | 25,272,000 | | Total liabilities and equity | $ | 25,272,000 | | | | | | | | | | a. Calculate the external financing needed for next year. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. Prepare the firms pro forma balance sheet for next year. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) | Balance Sheet | Assets | | Liabilities and equity | | Current assets | $ | Short-term debt | $ | | | Long-term debt | | Fixed assets | | | | | | Common stock | $ | | | Accumulated retained earnings | | | | | | | | Total equity | | | | | | Total assets | $ | Total liabilities and equity | $ | | | | | | c. Calculate the external financing needed. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d. 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.) | | | |